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Home  »  Australian Banks  »  Commonwealth Bank of Australia

Commonwealth Bank of Australia

 

Commonwealth Bank of Australia Logo

The Commonwealth Bank of Australia is a multinational bank 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).

The Commonwealth Bank's international presence includes: Retail banks in New Zealand (ASB Bank), Indonesia (PT Bank Commonwealth), and China (11% of Jinan City Commercial Bank and 19.9% of Hangzhou City Commercial Bank). Commonwealth Bank of Australia overseas branches in London, New York, Tokyo, Singapore, Hong Kong and Auckland.

 
 

Commonwealth Bank Australia HQ Location Map

Commonwealth Bank of Australia HQ
48 Martin Place
Sydney NSW 1155
Australia

Tel: +61 2 9378 2000

Toll Free: 13 2221
+61 13 2221 (from overseas)


Website: www.commbank.com.au

Banking Hours‎:
Mon - Fri : 9.30am - 4.00pm‎

 

 

The banks are regulated by the Australian Prudential Regulatory Authority (APRA) in Australia. APRA is responsible for regulating much of the financial industry, including insurance and superannuation companies. Institution seeking to be prudentially regulated as an authorised deposit-taking institution (ADI) is required to be authorised under the Banking Act 1959 (the Banking Act). The Australian Prudential Regulation Authority (APRA) is responsible for the authorisation process.

Section 5 of the Banking Act defines ‘banking business’ as consisting of both taking deposits (other than as part-payment for identified goods or services) and making advances of money, as well as other financial activities prescribed by regulations made under the Banking Act. The Banking Act only allows corporations to carry on banking business in Australia, which means APRA cannot consider applications from partnerships or unincorporated entities. ADIs are subject to rigorous and close supervision by APRA, which requires the ADI to comply with a range of requirements contained in Prudential Standards and provide comprehensive data to APRA under Reporting Standards.

 

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