Commonwealth Bank of Australia (ASX: CBA) is a full financial services company providing retail banking, business and institutional banking, funds management, insurance, investment and broking services. Commonwealth is the biggest bank in Australia by market capitalisation, with businesses across New Zealand, Fiji, Japan, Indonesia, China, Vietnam, Grand Cayman, USA and the UK. The Bank was established in 1991 by the Australian government and was fully privatised in three stages from 1991 until 1996. The Bank’s shares were listed on the Australian Stock Exchange (ASX) on 12 September 1991. In 2008, Commonwealth acquired Australia-based BankWest from British bank HBOS. Today, the Group operates through more than 1,000 domestic branches and employs over 40,000 people worldwide. Commonwealth is classified as one of the world's safest banks being one of only eight banks globally to achieve and maintain an AA rating. As of June 30, 2011, the Bank had total assets of US$711.85 billion and market capitalisation of over US$82 billion as of January 2012.
Credit Ratings (2012)
Subsidiaries: BankWest, ASB Bank, Colonial First State, Sovereign Limited, Commonwealth Securities and CommInsure.
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