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Commonwealth Bank: Australian Mega-Bank

December 17, 2015

One of the largest banks and companies in the world, the Commonwealth Bank has carved a niche for itself in the Asian region and don’t be surprised if it becomes mor prominent other global areas.

Founded in 1911 and based in Sydney, Australia the Commonwealth Bank is one of the largest banks in the world with sales of over $39 billion and a workforce of over 44,000. The firm offers banking and financial services.

The company provides a range of banking and financial products and services to retail, small business, corporate and institutional clients. It provides financial services, including retail banking, premium banking, business banking, institutional banking, funds management, superannuation, insurance, investment and share broking products and services. The bank operates its business under six segments: Retail Banking Services, Business and Private Banking, Institutional Banking and Markets, New Zealand, Bankwest and Other Divisions.

It has Asian retail and SME banking operations, investments in Chinese and Vietnamese retail banks. Commonwealth Bank has a joint venture Chinese life insurance business and life insurance operations in Indonesia.

It operates around 1,100 branches, 3,700 Australian post agencies, 4,300 ATMS and 200,000 EFTPOS terminals.

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