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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 provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services. Commonly referred to as the Commonwealth Bank (or Commbank), it was founded in 1911 by the Australian Government. The bank was listed on the Australian Stock Exchange in 1991 and was fully privatised in 1996. The Commonwealth Bank is now the fifth largest Australian public listed company on the Australian Stock Exchange. Commonwealth Bank of Australia brands include Colonial First State Investments Limited, ASB Bank (New Zealand), CommSec and CommInsure. Image File history File links Flag_of_Australia. ...
This article is about the metropolitan area in Australia. ...
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 and some other English speaking countries. ...
A chairman is the presiding officer of a meeting, organization, committee, or other deliberative body. ...
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...
Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ...
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Au. ...
2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...
In business, a subsidiary is a company controlled by another company or corporation. ...
ASB Bank is one of New Zealands largest banks, with branches throughout the country. ...
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The Australian Stock Exchange (ASX) is the primary stock exchange in Australia. ...
In Financial economics, a financial institution acts as an agent that provides financial services for its clients. ...
ASB Bank is one of New Zealands largest banks, with branches throughout the country. ...
History
 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. 1911 (MCMXI) was a common year starting on Sunday (click on link for calendar). ...
This article is about the year. ...
In Westminster System parliaments, an Act of Parliament is a part of the law passed by the Parliament. ...
1911 (MCMXI) was a common year starting on Sunday (click on link for 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), Australian politician 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. ...
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. July 15 is the 196th day (197th in leap years) of the year in the Gregorian Calendar, with 169 days remaining. ...
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 monopoly 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). ...
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 take you to calendar). ...
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 (link will take you to calendar) // Events January January 3 - Babe Ruth is traded by the Boston Red Sox to the New York Yankees for $125,000, the largest sum ever paid for a player at that time. ...
In 1920, the Commonwealth Bank merged with the state savings bank in Queensland. 1920 (MCMXX) was a leap year starting on Thursday (link will take you to calendar) // Events January January 3 - Babe Ruth is traded by the Boston Red Sox to the New York Yankees for $125,000, the largest sum ever paid for a player at that time. ...
Emblems: Faunal - Koala (Phascolarctos cinereus); Floral - Cooktown orchid (Dendrobium bigibbum); Bird - Brolga (Grus rubicunda); Aquatic - Barrier Reef Anemonefish (Amphiprion akindynos); Gem - Sapphire; Colour - Maroon Motto: Audax at Fidelis (Bold but Faithful) Slogan or Nickname: Sunshine State, Smart State Other Australian states and territories Capital Brisbane Government Const. ...
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). 1931 (MCMXXXI) was a common year starting on Thursday (link is to a full 1931 calendar). ...
1871 (MDCCCLXXI) was a common year starting on Sunday (see link for calendar). ...
1863 (MDCCCLXIII) is a common year starting on Thursday of the Gregorian calendar (or a common year starting on Saturday of the Julian calendar). ...
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. 1920 (MCMXX) was a leap year starting on Thursday (link will take you to calendar) // Events January January 3 - Babe Ruth is traded by the Boston Red Sox to the New York Yankees for $125,000, the largest sum ever paid for a player at that time. ...
1960 (MCMLX) was a leap year starting on Friday (the link is to a full 1960 calendar). ...
James Henry Scullin (September 18, 1876–January 28, 1953), Australian politician and ninth Prime Minister of Australia, was born in the small town of Trawalla, in western Victoria, the son of a railway worker of Irish Catholic descent. ...
Captain Robert L. Gibson is a former American astronaut. ...
The Great Depression was a worldwide economic downturn which started in 1929 (although its effects were not fully felt until late 1930) and lasted through most of the 1930s. ...
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 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. 1944 (MCMXLIV) was a leap year starting on Saturday (the link is to a full 1944 calendar). ...
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 Major Allied powers: United Kingdom Soviet Union United States Republic of China and others Major Axis powers: Nazi Germany Italy Japan and others Commanders Winston Churchill Joseph Stalin Franklin Roosevelt Harry Truman Chiang Kai-Shek Adolf Hitler Benito Mussolini Hideki Tojo Casualties Military dead: 17,000,000 Civilian dead...
1951 (MCMLI) was a common year starting on Monday; see its 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. 1958 (MCMLVIII) was a common year starting on Wednesday of the Gregorian calendar. ...
1959 (MCMLIX) was a common year starting on Thursday of the Gregorian calendar. ...
Reserve Bank of Australia in Martin Place, Sydney The Reserve Bank of Australia came into being on the 14th 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. 1960 (MCMLX) was a leap year starting on Friday (the link is to a full 1960 calendar). ...
1983 (MCMLXXXIII) was a common year starting on Saturday of the Gregorian calendar. ...
1960 (MCMLX) was a leap year starting on Friday (the link is to a full 1960 calendar). ...
The 1970s decade refers to the years from 1970 to 1979, inclusive. ...
1974 (MCMLXXIV) was a common year starting on Tuesday. ...
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. ...
1966 (MCMLXVI) was a common year starting on Saturday (the link is to a full 1966 calendar). ...
Credit cards A credit card system is a type of retail transaction settlement and credit system, named after the small plastic card issued to users of the system. ...
1974 (MCMLXXIV) was a common year starting on Tuesday. ...
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. ...
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1984 (MCMLXXXIV) was a leap year starting on Sunday of the Gregorian calendar. ...
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. ...
1993 (MCMXCIII) was a common year starting on Friday of the Gregorian calendar and marked the Beginning of the International Decade to Combat Racism and Racial Discrimination (1993-2003). ...
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.
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).
1983 (MCMLXXXIII) was a common year starting on Saturday of the Gregorian calendar. ...
This article is about the year. ...
Privatisation and the Colonial (1990-2001) In 1989 the bank acquired 75% of ASB Bank in New Zealand. This article is about the year. ...
2001: A Space Odyssey. ...
ASB Bank 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. The Fijian government established the National Bank of Fiji in 1976 on the base of the Savings Bank of Fiji, founded in 1907. ...
ASB Bank 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 and Finance Awards for the years 1996, 2000 & 2002. This article is about the year 2000. ...
Banking opportunities in Asia saw the Bank acquire part ownership of Indonesian Bank (PT Bank) and establish strategic cooperation agreements with Chinese Banks Jinan City and Hangzhou City Commercial Banks. Recently, a representative office was established in Bangalore, India.
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]. For album titles with the same name, see 2002 (album). ...
The Wilderness Society is an Australian not-for-profit non-governmental organisation that now fights environmental issues, such as logging in Old Growth Forests, destruction of endangered species habitats and protecting Queensland Wild Riversand Cape York Peninsula. ...
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. ...
Community Supports & Sponsorships Commonwealth Bank’s national sport sponsorships include the Commonwealth Bank Trophy and the Netball Development Fund, the Commonwealth Bank Cricket Academy (Australian Cricket Academy), and Australian Women’s Cricket. Commonwealth Banks will sponsor Australia's one day international annual tri-series tournament from 06/07 to 08/09 cricket season.It is also a long-term sponsor of the Australian of the Year Awards. Image File history File links Cbtlogo. ...
The Commonwealth Bank Trophy is the elite national competitition in Australian netball. ...
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 Australian of the Year Awards commenced in 1960. ...
Commonwealth Bank is also helps raising funds for medical research. Each year, with the Bank's support, the Breast Cancer Institute of Australia has produces the Australian Women's Health Diary, with all funds raised benefiting the organization. Sales of the diary have raised almost $3 million for the Cancer Institute of Australia with the Bank and it’s staff contributing more than $800,000.
Over the past three years the Bank contributed more than $158,000 to the Children’s Cancer Institute Australia by supporting their national fundraising and awareness campaign. The Bank is now working with Children’s Cancer Institute Australia to support their education and schools fundraising program.
Other organizations that the Bank supports includes Prostate Cancer Foundation of Australia, Australian Chamber Orchestra (ACO), Tasmanian Symphony Orchestra (TSO), Queensland Opera Company, Country Arts South Australia, Opera Australia, Council on the Ageing (COTA, NSW) (since 2001), and Wesley Mission (since 1997). The Australian Chamber Orchestra is based in Sydney, but tours its programs to most major Australian cities. ...
Opera Australia is Australias major opera company, formed by the merger of the Australian Opera and the Victorian State Opera companies in 1996. ...
Wesley Mission is a name used by several members of the Uniting Missions Network, an arm of the Uniting Church in Australia. ...
See also Reserve Bank of Australia in Martin Place, Sydney The Reserve Bank of Australia came into being on the 14th 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. ...
ASB Bank is one of New Zealands largest banks, with branches throughout the country. ...
This is a list of companies from Australia. ...
References - ^ Commonwealth Bank position on Gunns Limited, 9 October 2002. Accessed: 30 October 2006. [1]
- ^ The Wilderness Society: National Day of Action against the Commonwealth Bank. 29 Oct 2003. Accessed: 30 October 2006. [2]
- ^ Environment Australia: Corporate profile of Hazelwood power station. Accessed: 30 October 2006. [3]
- ^ WWF: Hazelwood tops international list of dirty power stations, 13 Jul 2005. [4]
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