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Commonwealth Bank of Australia

According to the statistics, the Commonwealth Bank of Australia is one of the largest financial institutions in Australia. The Commonwealth Bank of Australia stands fifth among the largest Australian banks. Besides, it is also honored as one of the four biggest banks in Australia. The bank was founded in 1911 by the Australian Government. In 1966, Commonwealth Bank of Australia was entirely privatized. The history of the bank says that the bank’s Note Issue Board was established in 1920. The bank printed and introduced its own notes in 1950, but it was not accepted by the people for long. As a result, the note became obsolete in 1956. It prevailed only for six years.

Earlier in the 21st century, the Commonwealth Bank of Australia merged with the Colonial Bank Limited. The second one was also a much famed and big banking industry. After this amalgamation, the Commonwealth Bank of Australia got the power over Colonial First State Investments Limited, ASB Bank (New Zealand), CommSec and CommInsure also. The Commonwealth Bank of Australia offers a bunch of services like and unlike other banks. These banking services include:

retail and commercial banking insurance, and investment services credit cards home loans deposit accounts mutual funds retirement products business and institutional banking

The bank has more than 35,000 employees across Australia. Since its beginnings with one office and twelve staff members over 90 years ago, the Commonwealth Bank of Australia has come a long way as now it has more than 3,200 ATM counters, over 1,000 branches and service centers and 3,800 agencies represented through Australia Post offices.

This site provides you a short detail of the bank’s profile:

Sales in U.S. Dollars (mil.) - 20,854.6 (2006) One-year % Growth in Sales (mil.) - 26.8 (2006) Net Income in U.S. Dollars (mil.) - 1,730.3 (2006) One-year % Growth in Net Income (mil.) - 36.3 (2006) Fiscal Year - End June

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Commonwealth Bank of Australia