Commonwealth Bank

The Commonwealth Bank of Australia (CBA), also known as Commonwealth Bank or simply CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States, and the United Kingdom. It provides a variety of financial services, including retail, business and institutional banking, funds management, superannuation, insurance, investment, and broking services. The Commonwealth Bank is the largest Australian listed company on the Australian Securities Exchange as of July 2024, with brands including Bankwest, Colonial First State Investments, ASB Bank (New Zealand), Commonwealth Securities (CommSec) and Commonwealth Insurance (CommInsure). Its former constituent parts were the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, and the Commonwealth Development Bank.

Founded in 1911 by the Australian Government and fully privatised in 1996, the Commonwealth Bank is one of the big four Australian banks, with the National Australia Bank (NAB), ANZ and Westpac. The bank was listed on the Australian Stock Exchange on 12 Sep 1991.

The former global headquarters of Commonwealth Bank were the Commonwealth Trading Bank Building on the corner of Pitt Street and Martin Place, Sydney, which was refurbished from 2012 for retail and commercial uses, and (from 1984 to 2012) the State Savings Bank Building on Martin Place, which was sold in 2012 to Macquarie Bank. The headquarters were then moved, splitting between two locations; Tower 1 of 201 Sussex Street and the Commonwealth Bank Place; a new complex of two nine-storey buildings in Darling Harbour on the western side of Sydney's city centre. In 2022, the headquarters were consolidated into the Commonwealth Bank Place, with Tower 1 of 201 Sussex Street remaining as a secondary head office.

In 2018, findings from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry have indicated a negative culture within the bank, amid allegations of fraud, deception, and money laundering, among various other crimes.

In 2022, the Commonwealth Bank held the 49th position in the "Top 1000 World Banks". As of August 2024 it is listed as the 66th largest company in the world by market cap. Provided by Wikipedia