MAJOR AUSTRALIAN BANK

Major Australian Bank



Profile of a Major Australian Bank

Commonwealth Bank of Australia (CBA)

Commonwealth Bank is Australia's largest bank by assets and market capitalization. Offers a wide range of banking products for private and corporate clients, including mortgage loans, bank cards, savings accounts, insurance, pension, investment and brokerage services, fund management. CBA has the largest among the Australian banks' distribution network consisting of more than 1,000 branches and 4,000 automated teller machines. The bank also has branches in London, New York, Tokyo, Hong Kong, Shanghai, Singapore, Indonesia, Auckland, Mumbai, Hanoi and a representative office in Beijing. Commonwealth Bank of Australia (CBA) is the leading provider of integrated financial services including private banking, preferential commercial and institutional banking, funds management, assets, liabilities, insurance, investment products and services and securities equity in Australia (Commonwealth Bank of Australia, 2010). Australia's largest bank and the second largest company listed on the ASX,

No. 1 in private warehouses with a market share above

No. 1 in mortgage loans with a market share above

No. 1 public First Choice platform with a market share

Key subdivision Commonwealth

Colonial First State - one of the leading Australian wealth management;

BankWest - universal bank operating in all market segments;

ASB - one of the largest retail banks in New Zealand;

Sovereign Limited - a company providing insurance, mortgages, retirement and investment services in New Zealand;

Commonwealth Indonesia - retail services in Indonesia;

Commonwealth Securities (CommSec) - the largest brokerage firm in Australia.

Commonwealth Bank of Australia Financial Summary

CBA is a limited company incorporated in Australia, whose capital usually amounted to 23.081 million Australian dollars as at 30 June 2010. CBA and its subsidiaries provide a wide range of services banking, financial and related to Australia. June 30, 2010, CBA and its controlled entities had total assets of 646,330 million Australian dollars, deposits and other borrowings Public 374 663 000 Australian dollars and a capital Regulatory total of 33,420 million Australian dollars. Earnings net after tax (statutory basis) totalled 5.664 million dollars Australia for the year ended June 30, 2010. Activity CBA provides a full range of banking, financial, life insurance, casualty insurance, fund management investment and other related services in Australia, New Zealand, all over the Asian continent and the United Kingdom. December 31, 2010, the ordinary share capital of CBA was 23.083 million Australian dollars and CBA and its controlled entities had a total assets amounting to 649.642 million dollars Australia, the amount of deposits and other borrowings amounted to public 395 345 000 Australian dollars and total regulatory capital was 32.846 million Australian dollars. Net profit after income tax (basic plan) for the six months ending 31 December 2010 was 3.052 million Australian dollars (Commonwealth Bank of Australia, 2010).

In the present scenario of the downturn of the economy, or in other words, the 'bullish economy' has posed a host of questions encompassing almost all fields of financial institutions as well as personal lives. Challenges to Banks are appearing in terms of restructuring of finances, interest rates and employment reduction, employee retention and employee ...