Commonwealth Bank
Financial Services Company
Big yields equal big trouble...for any downturn in the market. The bank sector fell 68 per cent in the financial crisis and, incredibly, on the day the Commonwealth Bank had a rights issue and fell 11 per cent, people were still saying "It's OK, they'll still pay... In this article: Babcock & Brown, Commonwealth Bank, Telstra, Australia, Tax, Westpac, and US |
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The Australian | 1 day ago
Stocks tumble on Dubai debt fear
...Ben Potter also said local banks would have little actual exposure to Dubai. "We were mainly down in sympathy," Mr Potter said. Commonwealth Bank fell $1.78, or 3.4 per cent, to $50.60, ANZ ended down 79c, or 3.59 per cent, at $21.19,...
In this article: Dubai, Thanksgiving Day, National Australia Bank, Westpac, S&P, and Rio Tinto
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Sydney Morning Herald - Business | 2 days ago
Historic third straight rate rise tipped
...cent is way too expansionary on an economy that wonaEUR™t experience the worst outcomes (of the global financial crisis),aEUR™aEUR™ Commonwealth Bank senior economist Michael Workman said. In a sign the Australian economy was doing better...
In this article: Dubai, Capital expenditure, Unemployment, and Royal Bank of Scotland
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Sydney Morning Herald - Business | 2 days ago
Dubai 'storm in a teacup' for dollar: CBA
...the dollar during its declines because DubaiaEUR™s request to delay payments on its debt is a aEURoestorm in a teacup,aEUR� according to Commonwealth Bank. The so-called Aussie briefly fell below 90 US cents today for the first time since...
In this article: Dubai, Audi, Credit Suisse, Sydney, New York, US, and United Arab Emirates
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Stuff | 2 days ago
Stocks tumble on Dubai worries
...bid for Mitre 10. Metcash shares lost 5 cents, or 1.1 per cent, to $4.58. The major banks all were down by more than 3 per cent. Commonwealth Bank fell $1.65, or 3.2 per cent, to $50.73, ANZ was down 71 cents, or 3.2 per cent, at $21.27,...
In this article: Dubai, WorleyParsons, Leighton Holdings, New Zealand, Safeway, National Australia Bank, and Westpac
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The Australian | 2 days ago
ANZ says no material exposure to Dubai
ANZ said today it has no material exposure to state-run conglomerate Dubai World. Commonwealth Bank of Australia wouldn't comment directly on whether it has an exposure to Dubai World, although a spokesman for the bank said "it's not...
In this article: Dubai World, Dubai, Commonwealth Bank of Australia, Recession, Australian Stock Exchange, Nova, DMG Radio Australia, Vega FM, and Iphone
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Sydney Morning Herald - National | 2 days ago
CBA silent on Dubai World exposure
...CBA had direct exposure to either Dubai World or Dubai Commercial Operations Group LLC, a CBA spokesman said: "It is not appropriate for the Commonwealth Bank to discuss confidential client information". The spokesman declined to comment...
In this article: Dubai World, CBA, Fitch, Dubai, Nakheel, National Australia Bank, and Westpac
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Sydney Morning Herald - Business | 3 days ago
NAB's credit exposures drop 6.6%
...capital adequacy framework for authorised deposit-taking institutions (ADIs) that adopt more advanced risk management approaches. Commonwealth Bank of Australia's (CBA) subsidiary, BankWest, moved to the advanced Basel II framework on...
In this article: Commonwealth Bank of Australia, BankWest, CBA, Risk management, and Australian Prudential Regulation Authority
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The Australian | 3 days ago
Main parties derail crusade against tax havens
...went on to name a further 32 countries where there was no relevant agreement, including the Mediterranean country of Malta where Commonwealth Bank has a $5 billion operation. "I am in good correspondence with the Commonwealth Bank about...
In this article: Tax, European Union, Malta, Greens, The Greens, and Ralph Norris
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Sydney Morning Herald - Business | 4 days ago
Come clean on your mistakes, banks told
It has called on banks that lent to Storm clients to be frank about ''errors that may have been made'', noting that just one, Commonwealth Bank, has so far apologised for its role. It said doubts remained about the conducts of the banks...
In this article: Bank of Queensland
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Sydney Morning Herald - Business | 4 days ago
Bad news piles up for BBP
...banking syndicate that is owed $2.6 billion by the utility - was referring to the continuing negotiations surrounding BBP's future. The Commonwealth Bank, National Australia Bank and ANZ are also exposed to BBP, and analysts said they would...
In this article: Alinta, Joint venture, Bad debt, Babcock & Brown Power, Suncorp Metway, Tax, National Australia Bank, and ANZ
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Description from Wikipedia:
The Commonwealth Bank of Australia (ASX: CBA) is the second largest bank by market capitalisation in Australia, with businesses across New Zealand,Fiji, Asia, USA and the United Kingdom. Commonwealth Bank provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services. Commonly referred to as the Commonwealth Bank (or Commbank), The Commonwealth Bank is now the second largest Australian listed company on the Australian Securities Exchange as of January 2008 with brands including BankWest, Colonial First State Investments Limited, ASB Bank (New Zealand), Commonwealth Securities Limited (CommSec)and Commonwealth Insurance Limited (CommInsure). On 7 December 2007 the bank won its skirmish with ANZ over bragging rights to the title of "Australia's most convenient bank".
Founded in 1911 by the Australian government, the Commonwealth Bank is one of the 'big four' Australian banks, with National Australia Bank (NAB), ANZ and Westpac. The bank listed on the Australian Stock Exchange in 1991 and the government fully privatised it in 1996.
On 14 August 2008 the Commonwealth Bank declared a $4.7 billion annual profit . The bank has approximately 7.7 million customers, 1011 branches and 3350 ATMs .
- Name:
- Commonwealth Bank of Australia
- Location:
- Sydney, Australia
- Region:
- Vietnam
- Founded:
- 1911 as a government bank
- Industry:
- Finance and Insurance
- Key People:
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- Dr John Schubert, Chairman
- Sir Ralph Norris, CEO and Managing Director
- Products:
- Banking, financial and related services
- Revenue:
- $28.564 billion AUD (2006)
- Net Income:
- $4.791 billion AUD (2008)
- No. of Employees:
- 38,000 (Full-time equivalent)
- Subsidiaries:
- BankWest, ASB Bank, Colonial First State Investments Limited, Sovereign Limited, Commonwealth Securities and CommInsure
- Motto:
- Determined to be different
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