The Commonwealth Bank of Australia was founded in 1911 by an Act of Parliament and commenced business in 1912. It also made provision to perform as a central bank.
In 1959 a separate Reserve Bank of Australia was created to take over the central bank functions. In December 1990 further legislation was passed.
Between December 1990 and November 1997, privatisation has been finalized.
On 22/08/2000 the company acquired the remaining shares in ASB of New Zealand, and on the 13 June 2000 acquired 100% of the shares of Colonial Limited a life insurance company.
The Commonwealth Bank provides a full range of retail banking services, including home loans, credit cards, personal loans, transaction accounts and demands and term deposits. The Group has leading domestic market shares in home loans, personal loans, retail deposits and discount stockbroker and is Australia's largest issuer of credit cards. The Group also offers a full range of commercial products including business loans, equipment and trade finance, and rural and agribusiness products.
The Premium Business Services of the bank serves corporation, government entities and other major institutions operating in Australasia.
The Group also offers investment of superannuation and other investment products. The Commonwealth Bank is the largest manager of Australian funds and the largest retail fund manager.
Financial Information- Shareholder base is in excess of 740,000
- Greater than 75% of staff in Australia is shareholders
- Just over 1009 branches nationally
- More than 3800 Australia Post Agencies
- Over 3300 ATM's nationally
- More than 187,000 EFTPOS terminals throughout Australia
Commonwealth Bank of Australia (CBA), Australia's second biggest bank listed on the Australian Stock Exchange (ASX: CBA.AX).
The Commonwealth Bank NetBank service has recently been upgraded to enhance functionality and is Australia's most widely used online banking system. Commonwealth Securites, Australia's leading discount broker is fully owned by the Commonwealth Bank as is Colonial First State Investments.
See the tables below for the full range of Commonwealth Bank loan and card products.
Latest Rates
| Product | Institution | Rate | Enquire |
|---|---|---|---|
| MAV 1 Year Discounted Variable Rate | Commonwealth Bank | 6.71% | Enquire |
| MAV Fixed Rate | Commonwealth Bank | 6.99% | Enquire |
| Low Doc MAV Fixed Rate | Commonwealth Bank | 6.99% | Enquire |
| 3 Year Special Economiser Discounted Base Variable Rate | Commonwealth Bank | 7.06% | Enquire |
| 1 Year Guaranteed Rate | Commonwealth Bank | 7.09% | Enquire |
| Fixed Rate | Commonwealth Bank | 7.14% | Enquire |
| Rate Saver Base Variable Rate | Commonwealth Bank | 7.23% | Enquire |
| Standard Variable | Commonwealth Bank | 7.74% | Enquire |
| MAV Variable | Commonwealth Bank | 7.74% | Enquire |
| Low Doc MAV Variable | Commonwealth Bank | 7.74% | Enquire |
| Viridian Residential Equity Rate | Commonwealth Bank | 7.79% | Enquire |
| MAV Viridian Residential Equity Rate | Commonwealth Bank | 7.79% | Enquire |
| MAV Viridian Res Equity Rate Lo Doc | Commonwealth Bank | 7.79% | Enquire |
| Commercial Loan | Commonwealth Bank | 9.89% | Enquire |
