ACCOUNTING ASSESSMENT

Accounting assessment



Accounting Assessment

Commonwealth bank of Australia

Introduction

Commonwealth bank of Australia is the key provider of the financial services in Australia. It is regarded as one of the finest banks operating in Australian Economy and has international presence. The services include the asset management, superannuation, insurance and brokerage services. It is ranked among the top 4 banks in the industry. FY2012 was a strong year for the bank and with a network 1100 branches across Australia and New Zealand. The group has been operating with seven business units which includes institutional banking, retail banking, auto loan provision and home load provision. The group brands include the Commonwealth Bank providing business loans and deposits to the individuals. It also includes the rural and urban customers. The private business segment of Australia also provides the lending services to the high net worth individuals and margin lending for the trading through commsec. This business unit also receives commission from the retail banking Unit. The business banking unit and private banking unit of the ban had been specialized in provision of relationship management services and agricultural financial services. It has also been providing services to richest individuals of the countries and also deals in margin lending for investing in stock market equities. The services to HNW are provided through CommSec. The investment is carried out in all the primary asset categories which include shares and cash and property. The segment of the of CBA dealing in investment also operates in the UK and Asia. The wealth management deals in insurance and annuities dealing over longer tenors and payment procedures.

The institutional banking department of the bank is dealing with the multiple resources which assist in clients needing to grow and manage the businesses and helping in developing customized solutions for the customers which can help them in business expansion. The programs are tailored to meet the industry specific needs of the individuals. The Total Capital solutions of the company offer solutions to the debt and crisis managements relating to capital markets and management of risk. It also involves trading and dealing with the institutional clients. The wholesale banking operations of the company also deal in the banking operations of different countries.

The company has been recently dealing with the license approval for operations in Shanghai and other Asian countries. The divisions lending activities include the full range of deposit products. Bank west also deals in providing specialized services in international banking and financing the projects. The New Zealand division of the bank deals in asset management and retail banking segments. The bank has retail operations in Indonesia, Japan and Vietnam and also has shares in the Chinese retail banks. Investments are carried out in different joint ventures which include insurance segment and other Chinese retail banks. The life insurance operations in India have been subsidiary of the operations in Indonesia.

Extensive distribution network makes CBA a leading financial player in Australia

The core strength of CBA is the proprietary network and distribution which has been ...