Commonwealth Bank

Commonwealth Bank

The Commonwealth Bank Group commenced operations in 1912 and today caters to the needs of over 700,000 shareholders with more than 38,000 employees offering a comprehensive range of financial services.

Commonwealth Bank’s management level is spearheaded by Managing Director and C.E.O. Ralph Norris whose appointment to the position took effect on September 23, 2003.

The Commonwealth Bank Group offers banking for personal, business and corporate needs which will be detailed in the sections below.

Personal

  • Accounts (various day-to-day banking accounts and savings accounts)
  • Credit Cards (low rate or low fee credit cards and reward cards)
  • Personal loans: * Fixed rate and variable rate personal loans (various interest rates p.a.)
  •  Loan terms of one to seven years
  •  Loans between $ 5,000 and $ 50,000
    * Fixed rate secured loans
  • No maximum loan amount, minimum loan is $ 10,000
  • Home loans (First home buyers, existing customers, property investors, refinancing, renovating)
  • Insurance (Home insurance, travel insurance, car insurance, life insurance, loan protection, credit card)
  • Investment (Cash investment accounts, term deposits, managed funds, annuities (fixed term & lifetime annuities), margin lending and investment growth bond)
  • Super (Self-managed super funds, super savings accounts)
  • Retirement (Annuities, pre-retirement pensions, allocated pensions, investment growth bonds)
  • Youth & students (Catering to under 18’s, tertiary and overseas students)

Business

  • Business accounts
  • Business credit & charge cards
  • Business reward programs (with Commonwealth Bank, Dell, OfficeMax, Private Cellar f. ex.)
  • Merchant services (various EFTPOS terminals as well as online and phone for card payments)
  • Loans (Overdraft, CommSec margin loan, business line of credit, bill facility etc.)
  • Asset finance (funding of equipment or vehicle finance)
  • Risk management (managing interest rate, currency or commodity risk)
  • Insurance (Life Insurance, income insurance, covering business overheads, small business insurance, vehicle insurance)
  • Investments (short, medium and long term investments)
  • Superannuation (employer, employee and self-managed super)
  • Agribusiness (Agribusiness solutions, borrowing, managing risk, investing, organising credit)
  • Commodities (Commodities risk management, collateral margining)

      • Corporate

      • Industry specific expertise (Agriculture, natural resources, property etc.)
      • Capital raising (Through debt or equity markets)
      • Transaction services such as online solutions and working capital (merchant services & acquiring, deposits, risk management, payables & receivables, fleet lease management etc.)
      • Analysis and information on debt, credit and equity markets, foreign exchange and economic policy developments

      For 2008 the Commonwealth Bank Group has posted an underlying net profit after tax of $ 4,746 million, an increase of 7 per cent on the previous year with net interest income increasing by 12 per cent over the prior year to $ 7,907 million.