Commonwealth Bank of Australia

History

The Commonwealth Bank was founded under the Commonwealth Bank Act in 1911. The company commenced operations in 1912. The Bank was empowered to conduct both savings and general banking business from its very beginning.
Today, the company has grown to be a huge business with millions of shareholders. The bank offers a full range of financial services to help every Australian build and manage wealth.

Mission

The mission of Commonwealth Bank of Australia is to be Australia's finest financial services organization through excelling in customer service.

Area of Operation

The businesses of Commonwealth Bank of Australia in the field of integrated financial services are:

• Retail Banking
• Business Banking
• Institutional Banking
• Funds Management
• Superannuation
• Insurance
• Investment
• Broking Services

Key Statistics

• Commonwealth Bank of Australia holds assets of $249.91 billion.
• Commonwealth Bank of Australia has made profits of $3.04 billion in 2006.
• Commonwealth Bank of Australia operates in Australia, New Zealand, Asia and the United Kingdom.
• Commonwealth Bank of Australia has 35,313 employees.

Organization

The leadership is provided by:

• Managing Director and CEO
• Group Executives
• General Counsel

Another important part of the organization is the People.
The structure of the company includes the following business units:

• Retail Banking Services
• Premium Business Services
• Wealth Management
• International Financial Services
• Financial and Risk Management
• Enterprise IT
• People Services
• Office of the CEO
• Marketing and Communications

International Ranking

• Commonwealth Bank of Australia ranks 113 in the world according to Forbes Magazine list.
• Commonwealth Bank of Australia ranks 350 in Fortune Global 500 list.

Recent Merger

The Commonwealth Bank and Colonial Limited merged in 2000.

Headquarter Address

48 Martin Place - Level 1
Sydney NSW 2000
Australia
Phone: 61-2-9378-2000