CommBank (Commonwealth Bank of Australia)

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Overview

CommBank (Commonwealth Bank of Australia) is ASX: CBA + Australia's largest commercial bank by assets + market capitalization + ~17M+ Australian customers + Big Four Australian bank with NAB + ANZ + Westpac ^{1, Australia report}.

History

Dec 22 1911 — Commonwealth Bank of Australia founded as Australian federal government-owned bank distinctive Australian banking heritage.

1991-1996 — Commonwealth Bank progressive privatisation via three IPO tranches on ASX.

2011 — CommBank mobile banking app launch.

2018 — CommBank AUSTRAC AML breach scandal + ~$700M fine.

Ownership & operator

Operating entity: Commonwealth Bank of Australia CBA (Australia's largest commercial bank by assets + market capitalization; ASX: CBA).

Major shareholders: Australian + international retail + institutional + foreign investors free float (no major controlling shareholder).

Regulators: APRA + ASIC + Reserve Bank of Australia.

Technical integration

CommBank mobile app (iOS + Android; ~17M+ Australian customers) + commbank.com.au online + CommBank branch network across Australia + ASB Bank New Zealand subsidiary + Bankwest Australian subsidiary + CommBank Visa + Mastercard + EFTPOS cards; PayID + New Payments Platform NPP + AU BSB + Osko (Australian fast P2P payment scheme).

Implementations & partners

CommBank subsidiaries: Bankwest (Bankwest Australian retail bank; CommBank Western Australia subsidiary) + ASB Bank (ASB Bank New Zealand; CommBank New Zealand subsidiary).

Major Australian banking + payments competitors: NAB Mobile Banking (National Australia Bank) (NAB National Australia Bank; ASX: NAB; Australia's #2 bank by assets) + ANZ (Australia and New Zealand Banking Group) (ANZ Australia and New Zealand Banking Group; ASX: ANZ; Australia's #3 bank by assets) + Westpac Mobile App (Westpac Westpac Banking Corporation; ASX: WBC; Australia's #4 bank by assets) + Bendigo Bank (Bendigo and Adelaide Bank) (Bendigo and Adelaide Bank; ASX: BEN; Australian regional bank) + Suncorp Bank (Suncorp Bank; ASX: SUN; Australian regional bank; ANZ acquired Aug 2024 ~$4.9B) + Macquarie Bank (Macquarie Bank; ASX: MQG; Australian investment bank + retail banking) + UBank (UBank NAB's Australian digital bank subsidiary) + Up Bank (Up Bendigo Bank-anchored Australian digital bank) + Wise (formerly TransferWise) (Wise UK + global multi-currency account) + Revolut (Revolut UK global; Australian operations + AFSL holder).

Regulators: APRA + ASIC + Reserve Bank of Australia.

Status

Active, ASX:CBA + Australia's largest commercial bank by assets + market capitalization + ~17M+ Australian customers + Big Four Australian bank with NAB + ANZ + Westpac ^{1, 2}.

Sources

1 CommBank — official
2 Commonwealth Bank — Wikipedia
^{Australia report} In-corpus: reports/countries/AU-australia.md

Source

Biography extracted from commbank.md. See matrix.md for standards-support matrix if present.