One of the largest listed companies on the Australia Securities Exchange, the Commonwealth Bank of Australia (CBA) - or better marketed as CommBank - is one of Australia's big four banks. As a public company, one of it main financial objectives is the provide more value for their shareholders. Other subsidiaries of its brand are Colonial First State, CommSec and Bankwest. It was founded in 1911 under the Commonwealth Bank Act. In 1912, it started operations in both savings and the general banking business.
Quick facts and figures
- Approximately 800,000 shareholders in their shareholder base
- More than 75% of their staff in Australia are CommBank shareholders
- Over 1,000 branches in Australia
- Over 4,000 ATMs in Australia
- Their BIC/SWIFT code is: CTBAAU2S
- Famous for their comprehensive online banking service, NetBank
- Over 52,000 employees
- Nearly 60% of staff are female
- Its Chief Executive Officer (CEO) is Ian Narev
- Its Chairman is David Turner
What products are offered by CommBank?
- Home loans
- Credit cards
- Personal loans
- Transaction accounts
- Term deposits
What services offered by CommBank?
- Retail banking
- Premium banking
- Business banking
- Institutional banking
- Funds management
- Share broking
Benefits of banking with CommBank
- International presence. CommBank has branches across Europe, North America, New Zealand and Asia. However, its domestic presence and massive market cap is what makes it Australia's largest bank.
- NetBank. An online banking facility in Australia letting users combine their transaction, savings, credit cards and share trading accounts in one place. NetBank can also produce a series of reports for you by tracking your savings and expenditure, so you know what you're spending most of your money on.
- 24/7 Customer Service. Its Australian-based call centre is open 24 hours 7 days a week.
- Some branches open on Saturday. If you can't make it to a branch during weekdays, you can always pop in on Saturday.