|Commonwealth office in Melbourne|
Commonwealth Bank of Australia (ASX: CBA) is a financial services company providing a broad range of products and services to retail, business and institutional customers. With about 52,000 employees, Commonwealth is the largest bank in Australia by market capitalization (A$127.7 billion, November 2015), with businesses across New Zealand, Fiji, Japan, Indonesia, China, Singapore, the United States and the UK. The Bank offers a full range of retail banking services including home and car loans, credit and debit cards, personal loans, transaction accounts, demand and term deposits through Commonwealth Bank and Bankwest brands. It also offers business loans, equipment and trade finance, rural and agribusiness products, corporate finance, equities, payments and transaction services, securities underwriting, investment management, custody services as well as life insurance, superannuation, retirement income and general insurance products. The company is one of the largest life insurers in Australia with approximately $2.4 billion in-force annual premiums. The Group is one of the largest manager of Australian funds, and one of the largest retail funds managers by total value of funds under management. Commonwealth Bank was established in 1911 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, Commonwealth Bank Group serves over 15 million customers and operates through more than 1,140 branches. 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, 2015, the Bank had total assets of A$873.446 billion, business and corporate loans of A$198.476 billion, home loans of A$422.851 billion, personal loans (including credit cards and margin lending) of A$23.5 billion, savings deposits of A$176.497 billion and investment deposits of A$195.065 billion.
|Standard & Poor's||AA-||A-1+||Stable|
Commonwealth Bank Subsidiaries
BankWest, ASB Bank, Colonial First State, Sovereign Limited, Commonwealth Securities, CommInsure, Colonial National Bank (Fiji), PT Bank Commonwealth (Indonesia) and AMTD Group Company Limited (Hong Kong).
Domestic Distribution network (June 2015)
• 1,147 branches nationally
• 3,670 Post agencies
• 4,400 ATMs
• 208,202 EFTPOS terminals
• 45,948 FTE employees
• Retail banks in New Zealand (ASB Bank) and Indonesia (Commonwealth Bank Indonesia).
• Banking investments in China (20 per cent in Qilu Bank and 19.9 per cent in Bank of Hangzhou) and Vietnam.
• Life insurance in New Zealand (Sovereign), Indonesia (Commonwealth Life) and a joint venture in China (BoCommLife).
• Banking branches in London, New York, Tokyo, Hong Kong, Shanghai, Singapore, Auckland and Mumbai.
• Representative offices in Beijing and Hanoi.
Head office address:
Level 7, 48 Martin Place
Sydney, 1155, Australia