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Encyclopedia > Commonwealth Bank
Commonwealth Bank of Australia
Type Public (ASX:CBA)
Founded 1911 as a government bank
1991 as a public company
Headquarters Flag of Australia Sydney, Australia
Area served Flag of Australia Australia
Flag of New Zealand New Zealand
Flag of Fiji Fiji
Flag of Indonesia Indonesia
Key people Dr John Schubert, Chairman
Ralph Norris, CEO and Managing Director
Industry Finance and Insurance
Products Comprehensive and integrated range of financial products and services
Revenue $28,564 billion AUD (2006)
Profit $3.928 billion AUD (2006)
Employees 35,000+
Subsidiaries ASB Bank, Colonial First State Investments Limited, Sovereign Limited, Commonwealth Securities and CommInsure
Slogan Every day's a new day
Website www.commbank.com.au

The Commonwealth Bank of Australia (ASX: CBA) is one of the largest financial institutions in Australia, founded in 1911 by the Australian Government. The bank was listed on the Australian Stock Exchange in 1991 and was fully privatised in 1996. Image File history File links No higher resolution available. ... Year 1911 (MCMXI) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Saturday of the 13-day-slower Julian calendar). ... Year 1991 (MCMXCI) was a common year starting on Tuesday (link will display the 1991 Gregorian calendar). ... Image File history File links This is a lossless scalable vector image. ... This article is about the metropolitan area in Australia. ... Image File history File links This is a lossless scalable vector image. ... Image File history File links Flag_of_New_Zealand. ... Image File history File links Flag_of_Fiji. ... Image File history File links Flag_of_Indonesia. ... A Chairman is the presiding officer of a meeting, organization, committee, or other deliberative body. ... Ralph Norris is the CEO of the Commonwealth Bank of Australia. ... Chief Executive Officer (CEO) is the job of having the ultimate executive responsibility or authority within an organization or corporation. ... Managing director is the term used for the chief executive of many limited companies in the United Kingdom, Commonwealth and some other English speaking countries. ... Finance and Insurance is an industry group that mainly handles the transfer of paper and money, financial assets. These include: Accounting, Asset Management, Electronic Communications Networks, Financial Services Regulatory Agencies, Investment Banking Investment Firms, Investment Funds, Lending, Outsourced Financial Products & Services Marketing, Securities Brokers & Traders, Stock Exchanges, Trade Facilitation, and... Look up revenue in Wiktionary, the free dictionary. ... Image File history File links No higher resolution available. ... Au. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Image File history File links No higher resolution available. ... Au. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... This article is about work. ... A subsidiary, in business, is an entity that is controlled by another entity. ... ASB is one of New Zealands largest banks, with branches throughout the country. ... Sovereign is a Financial Services provider of life and health insurance, home loans, investment and superannuation products in New Zealand and is part of the ASB Group of companies. ... It has been suggested that this article or section be merged into Commonwealth Bank. ... Look up slogan in Wiktionary, the free dictionary. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos and other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... The Australian Securities Exchange (ASX) is the primary stock exchange in Australia. ...


The Commonwealth Bank is now the fifth-largest Australian listed company on the Australian Stock Exchange with brands including Colonial First State Investments Limited, ASB Bank (New Zealand), CommSec and CommInsure. The Australian Securities Exchange (ASX) is the primary stock exchange in Australia. ... ASB is one of New Zealands largest banks, with branches throughout the country. ...

Contents

History

Old Commonwealth Bank of Australia savings passbook, issued 1977.
Old Commonwealth Bank of Australia savings passbook, issued 1977.

Image File history File links Download high resolution version (1893x1430, 107 KB) Old Commonwealth Bank of Australia savings passbook, issued 1977. ... Image File history File links Download high resolution version (1893x1430, 107 KB) Old Commonwealth Bank of Australia savings passbook, issued 1977. ...

Foundation and early history (1911-1941)

The Commonwealth Bank of Australia was founded by an Australian Act of Parliament in 1911 called Commonwealth Bank Act. Bank Nationalisation was the policy of the Andrew Fisher Labor Government. In a rare move for the time, the bank was to have both savings and general bank business. The bank was also the first bank in Australia to receive a Federal Government guarantee. The bank's earliest and most strenuous proponent was the flamboyant American-Australian Labor politician, King O'Malley, and its first Governor was Sir Denison Miller. An Act of Parliament or Act is law enacted by the parliament (see legislation). ... Year 1911 (MCMXI) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Saturday of the 13-day-slower Julian calendar). ... Nationalization is the act of taking assets into state ownership. ... Andrew Fisher at the naming of Canberra ceremony, 1913 Andrew Fisher (29 August 1862 - 22 October 1928), Australianpolitician and fifth Prime Minister of Australia, was born in Crosshouse, a mining village near Kilmarnock, East Ayrshire, Scotland. ... King OMalley King OMalley (July 1858 - 20 December 1953), Australian politician, was one of the more colourful characters of the early federal period of Australian political history. ... Sir Denison Samuel King Miller KCMG, (8 March 1860 – 6 June 1923) was the first governor of the Commonwealth Bank of Australia. ...


The first branch (the Melbourne branch) of the bank opened on July 15, 1912. In an agreement with Australia Post that exists to this day, the bank also traded through post office agencies. In 1912 it merged with the state savings bank in Tasmania and by 1913 it had branches in all six states. This article is about the Australian city; the name may also refer to City of Melbourne or Melbourne city centre. ... is the 196th day of the year (197th in leap years) in the Gregorian calendar. ... 1912 (MCMXII) was a leap year starting on Monday in the Gregorian calendar (or a leap year starting on Tuesday in the 13-day-slower Julian calendar). ... Australia Post is the government-owned postal service of Australia. ... 1912 (MCMXII) was a leap year starting on Monday in the Gregorian calendar (or a leap year starting on Tuesday in the 13-day-slower Julian calendar). ... Slogan or Nickname: The Apple Isle; Holiday Isle Motto(s): Ubertas et Fidelitas (Fertility and Faithfulness) Other Australian states and territories Capital Hobart Government Constitutional monarchy Governor William Cox Premier Paul Lennon (ALP) Federal representation  - House seats 5  - Senate seats 12 Gross State Product (2004-05)  - Product ($m)  $16,114...


In 1916 the bank moved its head office to Sydney. It also followed the Australian army into New Guinea where it opened a branch in Rabaul and agencies elsewhere. 1916 (MCMXVI) was a leap year starting on Saturday (link will display the full calendar). ... This article is about the metropolitan area in Australia. ... A view from Rabaul Volcano Observatory across the relatively undamaged western half of Rabaul and towards Tavurur Rabaul, Papua New Guinea, was the headquarters of German New Guinea and then the Australian mandatory territory of New Guinea from 1910 until 1937, the base of Japanese activities in the South Pacific...


In 1920, the bank assumed the responsibility for the issue of Australian bank notes from the Department of Treasury, the beginning of its acquisition of central bank powers. 1920 (MCMXX) was a leap year starting on Thursday. ...


In 1920, the Commonwealth Bank merged with the state savings bank in Queensland. 1920 (MCMXX) was a leap year starting on Thursday. ... Slogan or Nickname: Sunshine State, Smart State Motto(s): Audax at Fidelis (Bold but Faithful) Other Australian states and territories Capital Brisbane Government Constitutional monarchy Governor Quentin Bryce Premier Anna Bligh (ALP) Federal representation  - House seats 28  - Senate seats 12 Gross State Product (2004-05)  - Product ($m)  $158,506 (3rd...


In 1931 the government transferred to the bank the savings bank business of the Government Savings Bank of New South Wales (est. 1871) and the current account and fixed deposit business of the Rural Bank Department. The bank also acquired the State Savings Bank of Western Australia (est. 1863). Year 1931 (MCMXXXI) was a common year starting on Thursday (link will display full 1931 calendar) of the Gregorian calendar. ... 1871 (MDCCCLXXI) was a common year starting on Sunday (see link for calendar). ... Year 1863 (MDCCCLXIII) was a common year starting on Thursday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Saturday of the 12-day slower Julian calendar). ...


Central Bank (1920-1960)

The bank's role in central banking expanded gradually after 1920. In 1931, the bank board came into conflict with the Labor government of James Scullin. The bank's chairman Robert Gibson refused to expand credit in response to the Great Depression (as had been proposed by Treasurer Edward Theodore) unless the government cut pensions, which Scullin refused to do. Conflict surrounding this issue led to the fall of the government, and to demands from Labor for reform of the bank and more direct government control over monetary policy. James Henry Scullin (September 18, 1876 – January 28, 1953), Australian Labor politician and ninth Prime Minister of Australia. ... Captain Robert L. Gibson is a former American astronaut. ... For other uses, see The Great Depression (disambiguation). ... Hon Ted Theodore Edward Granville Theodore (29 December 1884 - 28 February 1950), Australian politician, was born in Adelaide, South Australia, the second son of a Romanian immigrant called Basil Teodorescu. ...


In 1942, the Commonwealth Banking Corporation (CBC) suspended its operations in Papua New Guinea as the Japanese Army captured many of the towns in which it operated, and bombed Port Moresby. The bank resumed operations later, possibly in 1944. Downtown Port Moresby Port Moresby (IPA: ), or Pot Mosbi in Tok Pisin, population 255,000 (2000), is the capital of Papua New Guinea. ... 1944 (MCMXLIV) was a leap year starting on Saturday. ...


The Commonwealth Bank received almost all central bank powers in emergency legislation passed during World War II and at the end of the war it used this power to begin a dramatic expansion of the economy. This was also the aim of the Government at the time, which colossally expanded immigration programmes. To respond to this, the bank established a Migrant Information Service. Predictably, the bank also expanded during this period, in just five years it opened hundreds of branches throughout Australia and in 1951 the bank established a branch in the Solomon Islands. Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... Year 1951 (MCMLI) was a common year starting on Monday (link will display the full calendar) of the Gregorian calendar. ...


In 1958 and 1959, there was a controversy concerning the dual function of the bank as the central bank on the one hand and a general bank on the other. As a result of this, the bank was split, giving the reserve bank function to the Reserve Bank of Australia and the general bank function to the Commonwealth Banking Corporation. Year 1958 (MCMLVIII) was a common year starting on Wednesday (link will display full calendar) of the Gregorian calendar. ... Year 1959 (MCMLIX) was a common year starting on Thursday (link will display full calendar) of the Gregorian calendar. ... The Reserve Bank of Australia came into being on 14 January 1960 to operate as Australias central bank and banknote issuing authority. ...


From 1958 to 1976 the Commonwealth Bank operated savings bank agencies in the New Hebrides. The New Hebrides are an island group in the South Pacific that now form the nation of Vanuatu. ...


Diversification (1960-1983)

A new Commonwealth Development Bank was established in 1960 and during the 1970s the bank diversified its business into areas like insurance and travel. It established a finance company, the Commonwealth Bank Finance Corporation in 1974. The bank also became more heavily involved in foreign currency trading and international banking in general. Year 1960 (MCMLX) was a leap year starting on Friday (link will display full calendar) of the Gregorian calendar. ... The 1970s decade refers to the years from 1970 to 1979, also called The Seventies. ... Year 1974 (MCMLXXIV) was a common year starting on Tuesday (link will display full calendar) of the 1974 Gregorian calendar. ...


The bank actively supported the introduction of decimal currency in the years leading up to 1966 and, like most banks, it gradually converted its paper records onto a new computer-based system. The bank created the first credit card in Australia in 1974 when it established Bankcard. In later years the bank began offering Mastercards (1984) and Visa (1993) cards as well. Decimal currency is the term used to describe any currency for which the ratio between the basic unit of currency and its sub-unit is a power of 10. ... Year 1966 (MCMLXVI) was a common year starting on Saturday (link will display full calendar) of the 1966 Gregorian calendar. ... Look up credit card in Wiktionary, the free dictionary. ... Year 1974 (MCMLXXIV) was a common year starting on Tuesday (link will display full calendar) of the 1974 Gregorian calendar. ... BankCard, founded 1974, is a shared brand credit card issued by Australian financial institutions, and accepted, at present, only by businesses within mainland Australia, Tasmania, and Lord Howe Island; Norfolk Island; New Zealand; and the Cook Islands. ... MasterCard Worldwide (NYSE: MA) is a membership organization owned by the 25,000+ financial institutions that issue its card. ... This article is about the year. ... Visa is a brand of credit card and debit card operated by the Visa International Service Association of San Francisco, California, USA, an economic joint venture of 21,000 financial institutions that issue and market Visa products. ... Year 1993 (MCMXCIII) was a common year starting on Friday (link will display full 1993 Gregorian calendar). ...


In 1974, as Papua New Guinea approached independence, the bank formally handed over its PNG operations to the newly created and government-owned Papua New Guinea Banking Corporation (PNGBC). The bank retained a restricted branch in Port Moresby that it finally closed in 1982. Bank of South Pacific (BSP) is Papua New Guinea’s largest bank, with 35 branches throughout the country and capital in excess of Kina 2 billion. ...


In 1981 the bank transferred its operations in the Solomon Islands to the National Bank of Solomon Islands, which operated a joint venture (51-49, Commonwealth and Government of the Solomon Islands). National Bank of Solomon Islands National Bank of Solomon Islands (NBSI) has the largest branch (8) and agency (8) network in the Islands. ...


Deregulation(1983-1990)

Privatisation and the Colonial merger (1990-2001)

In 1989 the bank acquired 75% of ASB Bank in New Zealand. ASB is one of New Zealands largest banks, with branches throughout the country. ...


In 1991 the bank acquired the State Bank of Victoria (est. 1842). Between 1991 and 1996 the Australian government fully privatised the bank. The State Bank of Victoria was a bank that existed from the 1870s until 1991 when it was taken over by the Commonwealth Bank of Australia. ...


In 1994 Commonwealth sold its shares in the National Bank of Solomon Islands to Bank of Hawaii. Bank of Hawaii is a regional commercial bank headquarted in Honolulu, Hawaii, owned by Bank of Hawaii Corporation (NYSE: BOH). ...


On 10 March 2000, the Commonwealth Bank and Colonial First State Investments Limited announced their intention to merge, with seven Commonwealth Bank shares being offered for twenty Colonial Shares. The merger received final approval from the Supreme Court of Victoria on 31 May 2000 and was completed on 13 June 2000. This brought into the fold Colonial’s stake in Colonial National Bank, the former National Bank of Fiji. The bank also acquired the remaining 25% of ASB Bank. Colonial National Bank The full name of the bank is National Bank of Fiji trading as Colonial National Bank. ... The Fijian government established the National Bank of Fiji in 1976 on the base of the Savings Bank of Fiji, founded in 1907. ... ASB is one of New Zealands largest banks, with branches throughout the country. ...


The bank today (2000 +)

Commonwealth Bank was awarded Bank of the Decade in November 1999 and also named Best Bank at the Australian Banking & Finance Awards for the years 1996, 2000 and 2002. Throughout the decade the bank introduced a myriad of new fees on basic accounts, including: a 35 dollar dishonour fee. At the same time it has achieved record profit margins. The bank has also cut branch numbers. The bank has reduced the number of home-loan regular reports sent to its customers. From 12 per year, to six per year, to four per year and finally to one per year. Australian Banking & Finance is an Australian magazine for the nations financial services industry. ...


Banking opportunities in Asia saw the Bank acquire part ownership of an Indonesian bank (PT Bank) and establish strategic cooperation agreements with two Chinese banks, Jinan City Commercial Bank and Hangzhou City Commercial Bank. Recently, it established a representative office in Bangalore, India. For other uses, see Bangalore (disambiguation). ...


On 27 January 2006 the bank acquired the remaining 49% stake in Colonial National Bank (Fiji)


Bank Structure

Retail Banking Services

The role of this division is to focus on meeting the financial needs of personal and small business customers with accessible and affordable banking


Premium Business Services

This division provides wealth and relationship management for the Bank's premium clients. Commonwealth Securities – one of Australia’s leading online broking services is part of this division It has been suggested that this article or section be merged into Commonwealth Bank. ...


Wealth Management

Wealth Management brings together the Groups funds management platform, master funds, superannuation, insurance and financial advice business support. Colonial First State, Colonial First State Global Asset Management and CommInsure all form part of Wealth Management


International Financial Services

The Bank places emphasis on offshore growth opportunities and provides banking, insurance and investment services in these overseas locations


International operations/activity

The Commonwealth Bank's international presence is in both developed and developing countries. Some of these include:

  • Retail banks in New Zealand (ASB Bank), Indonesia (PT Bank Commonwealth), Fiji (Colonial National Bank) and China (11% of Jinan City Commercial Bank and 19.9% of Hangzhou City Commercial Bank).
  • Commonwealth Bank branches in London, New York, Tokyo, Singapore, Hong Kong and Auckland.
  • Wholly owned life insurance operations in New Zealand (Sovereign Insurance and Fiji (Colonial Fiji Life)
  • Joint venture life insurance businesses in Indonesia (Astra CMG); China (China Life CMG) and Vietnam (Bao Minh CMG)
  • First State funds management business in Hong Kong, Singapore, London, Fiji, China and Indonesia
  • Representative offices in Beijing, Shanghai, Hanoi and Bangalore.

This article is about the capital of England and the United Kingdom. ... This article is about the state. ... For other uses, see Tokyo (disambiguation). ... For other uses, see Auckland (disambiguation). ... “Peking” redirects here. ... For other uses, see Shanghai (disambiguation). ... Hanoi (Vietnamese: Hà Ná»™i, Hán Tá»±: 河内)  , estimated population 3,145,300 (2005), is the capital of Vietnam. ... For other uses, see Bangalore (disambiguation). ...

Products and services

The Commonwealth Bank is Australia's largest retail bank and offers customers a range of products and services, including loans, credit cards, transaction and savings accounts. It has a wide presence in Australia with the largest branch and ATM network. It also offers services to people planning to move to Australia.


The Bank's service of business customers, ranging from small business owners to large institutional clients, is diverse and draws upon the products and services offered by all divisions of the Commonwealth Bank group.


This article or section is written like an advertisement. Please help rewrite this article from a neutral point of view.


Industry awards and recognition

The Commonwealth Bank is consistently the recipient of many highly regarded and well recognised awards. These include:

  • Awards for Excellence – Best Bank in Australia (Euromoney)
  • Best Online Banking Website – NetBank (Australian NetGuide Magazine)
  • Best Commercial Bank in Australia (AsiaMoney)
  • Product Innovator of the Year – CALIA+ Product (Money Magazine)
  • Fund Manager of the Year – Colonial First State (Personal Investor Magazine Awards)
  • Winner, Best Rated Balanced Fund – Balanced Fund (Money Magazine)
  • Best Life Insurance Product (Australian Banking and Finance Magazine)
  • Best General Insurance product for Home and Contents Insurance (Australian Banking and Finance Magazine)
  • Best Project Finance Deal, most innovative deal (Finance Asia)

Environment

Environmental Concerns

In 2002, the Commonwealth Bank came under fire by the Wilderness Society for its 16% stake in the controversial woodchipping company Gunns Limited, which is involved in the logging of old growth forests. The Commonwealth Bank has retorted that it does not itself hold any direct investment in Gunns Limited, but instead has invested in Gunns through its funds management businesses, on its behalf.[1] The Wilderness Society claims the Commonwealth Bank is the second biggest shareholder in Gunns, and at a Gunns shareholder general meeting in August 2003, the Commonwealth Bank has used its shareholder voting rights to vote against a resolution which would have stopped the company from destroying old growth forests[2]. Also see: 2002 (number). ... The Wilderness Society (TWS) is an Australian not-for-profit non-governmental environmental advocacy whose mission is protecting, promoting and restoring wilderness and its natural processes. ... Woodchipping is the act and industry of chipping wood for pulp. ... Gunns Limited is a major forestry enterprise located in Tasmania, Australia. ...


Commonwealth also owns an 8.2% share in the Hazelwood power station[3], the most polluting power station[4] in Australia and the industrialised world. Hazelwood power station, in the Latrobe Valley, Victoria, is a thermal brown coal station built between 1964 and 1971. ...


Environmental initiatives

The Commonwealth Bank has demonstrated its commitment to the environment through its support of various initiatives. This article or section is written like an advertisement. Please help rewrite this article from a neutral point of view.

  • Conservation Volunteers Australia: Leveraging the power of ordinary Australians who want to make a difference. the Commonwealth Bank Green Ambassadors program awards young people for being actively involved in improving their environment
  • Great Barrier Reef foundation – Coral Futures: This program enables over 375 marine science students to study coral in the reef itself, contributing to the education of future coral reef scientists. The partnership shows the emphasis the bank places on the education of young Australians as well as a sustainable environment.
  • Bank Environmental Policy: All bank staff and premises are guided by a policy which outlines methods to make efficient use of energy, water and paper to reduce the direct impact of the business on the environment
  • World First toner-recycling scheme: This is an industry acknowledged and sponsored toner recycling scheme which aims to reduce the high level of waste. Through this scheme, 100% of toner product is recycled and diverted from landfill.

Community support and sponsorships

Sport sponsorships

  • Cricket: The Commonwealth Bank has expanded its involvement in cricket, sponsoring the one-day international series. The bank is also the principal sponsor of Women’s Cricket at all levels since 1998, including the Australian Women’s Cricket team, the "Commonwealth Bank Southern Stars", and the Australian Women’s Youth team, the "Commonwealth Bank Shooting Stars".
  • Netball: The Commonwealth Bank has been supporting the development of netball in Australia since 1997. The Commonwealth Bank is the major sponsor of the premier domestic netball competition, and provides support at the grass roots level through the Commonwealth Bank Netball Development Fund.

Australian of the Year Award

The Commonwealth Bank is the major sponsor of the Australian of the Year Awards and has supported the program since 1979. The Awards recognise the achievements of Australians and the contributions they have made to their community. There are four Award categories - Australian of the Year, Senior Australian of the Year (60 years and over), Young Australian of the Year (16 to 25 years) and Australia’s Local Hero.


This article or section is written like an advertisement. Please help rewrite this article from a neutral point of view.


The Commonwealth Bank Foundation

This foundation encourages developments in education, in particular the financial literacy skills of young Australians. It aims to create awareness, skill and understanding of the benefits of a more financially literate community. One of the initiatives is the Bank’s Student Banking Program introduced in 1931 to teach young people the basic skills of money management and encouraging them to save.


This article or section is written like an advertisement. Please help rewrite this article from a neutral point of view.


Community partnerships

The Commonwealth Bank has established partnerships with many community organisations providing education and greater access to services for all Australians. This support is spread across metropolitan, regional and remote Australia, in such fields as:

  • Health research: Breast Cancer Institute of Australia, Children’s Cancer Institute of Australia, Prostate Cancer Foundation of Australia
  • The Arts: Opera Australia, Australian Chamber Orchestra, Tasmanian Symphony Orchestra, Country Arts South Australia
  • Social Welfare: Legacy Badge Day Appeal, St Vincent de Paul Night Patrol, Wesley Mission Disability Services, Council on the Aging
  • Disaster Relief: Australian Red Cross

By combining a commitment these varied fields, the partnerships have achieved positive, sustainable outcomes for the Australian community. This article or section is written like an advertisement. Please help rewrite this article from a neutral point of view.


Staff Community Fund

The Commonwealth Bank Staff Community Fund was established in 1917 when a group of Bank employees got together to fund the provision of children's cots during World War One. This continues today through the Staff Community Fund. The fund now has over 3,000 members (current and retired) who contribute fortnightly. Money is also raised through special fundraising days such as National Smile Day and one-off donations. The fund has donated over $5 million to various charities over the past ten years. The Bank meets the Fund’s administration costs, so that every dollar raised goes directly to the cause.


As well as raising money Bank staff volunteer their time for the charities they support. These include:

  • National Smile Day: Make every day a smile day! Donations accepted in-branch enable the Clown Doctors to continue the wonderful work of bringing fun and humour to children’s wards across Australia.
  • Midnight Basketball: Keeping Kids off the Streets engages underprivileged children in the Redfern area each Saturday night between 7:30pm and 12am, playing basketball and participating in specific workshops such as drug, alcohol and anger management as well as financial skills and finding employment.

Subsidiaries

Australia

New Zealand It has been suggested that this article or section be merged into Commonwealth Bank. ... The Commonwealth Bank of Australia (ASX: CBA) is one of the largest financial institutions in Australia, founded in 1911 by the Australian Government. ...

Asia Pacific ASB is one of New Zealands largest banks, with branches throughout the country. ... Sovereign is a Financial Services provider of life and health insurance, home loans, investment and superannuation products in New Zealand and is part of the ASB Group of companies. ...

Colonial National Bank The full name of the bank is National Bank of Fiji trading as Colonial National Bank. ...

See also

The Reserve Bank of Australia came into being on 14 January 1960 to operate as Australias central bank and banknote issuing authority. ... The State Bank of Victoria was a bank that existed from the 1870s until 1991 when it was taken over by the Commonwealth Bank of Australia. ... The State Bank of New South Wales was a bank that was owned by the Government of New South Wales. ... The Australian Cricket Academy, originally located at Henley Beach in Adelaide, was formed in 1987 as a joint initiative of the Australian Institute of Sport (AIS) and the Australian Cricket Board (ACB). ... The Commonwealth Bank Trophy is the elite national competitition in Australian netball. ... This is a list of companies from Australia. ...

References

  1. ^ Commonwealth Bank position on Gunns Limited, 9 October 2002. Accessed: 30 October 2006. [1]
  2. ^ The Wilderness Society: National Day of Action against the Commonwealth Bank. 29 Oct 2003. Accessed: 30 October 2006. [2]
  3. ^ Environment Australia: Corporate profile of Hazelwood power station. Accessed: 30 October 2006. [3]
  4. ^ WWF: Hazelwood tops international list of dirty power stations, 13 Jul 2005. [4]

External links


  Results from FactBites:
 
Commonwealth Bank at AllExperts (1035 words)
The Commonwealth Bank received almost all central bank powers in emergency legislation passed during World War II and at the end of the war it used this power to begin a dramatic expansion of the economy.
In 1989 the bank acquired 75% of ASB Bank in New Zealand.
In 2002, the Commonwealth Bank came under fire for its 16% stake in the controversial woodchipping company Gunns Limited, which is involved in the logging of old growth forests.
Commonwealth Bank of Australia: Information from Answers.com (1653 words)
The Commonwealth Bank of Australia (ASX: CBA), is the 2nd largest financial institution in Australia and number 41st in the world (according to Fortune Global 500) [5] with businesses in New Zealand, Asia and the United Kingdom.
Commonwealth Bank was awarded Bank of the Decade in November 1999 and also named Best Bank at the Australian Banking and Finance Awards for the years 1996, 2000 and 2002.
In 2002, the Commonwealth Bank came under fire by the Wilderness Society for its 16% stake in the controversial woodchipping company Gunns Limited, which is involved in the logging of old growth forests.
  More results at FactBites »


 

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