Commonwealth Bank of Australia
The Commonwealth Bank of Australia (CBA), commonly referred to as CommBank, is an Australian multinational banking and financial services corporation. It operates across New Zealand, Asia, the United States, and the United Kingdom, offering a range of services including retail, business, and institutional banking, funds management, superannuation, insurance, investment, and broking services. As of August 2015, it was the largest Australian-listed company on the Australian Securities Exchange (ASX). Its notable brands include Bankwest, Colonial First State Investments, ASB Bank (New Zealand), Commonwealth Securities (CommSec), and Commonwealth Insurance (CommInsure).
The bank originated from the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, and the Commonwealth Development Bank. It was founded in 1911 by the Australian Government and fully privatized in 1996. CommBank is part of the “big four” Australian banks alongside National Australia Bank (NAB), ANZ, and Westpac. It was listed on the ASX in 1991.
CommBank’s historical global headquarters were located at the Commonwealth Trading Bank Building and the State Savings Bank Building on Martin Place, Sydney. Both properties were sold or repurposed by 2012, and the bank relocated its headquarters to Tower 1 at 201 Sussex Street and two adjacent nine-story buildings constructed on the former Sega World Sydney site in Darling Harbour, Sydney.
In 2018, the Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry revealed systemic issues within CommBank, including allegations of fraud, deception, and money laundering, as well as broader cultural and governance failings. These findings highlighted the need for significant reforms within the institution.
Contact Info
- www.commbank.com.au
- Darling Park Tower 1, 201 Sussex Street, Sydney, New South Wales, Australia
