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The Commonwealth Bank of Australia was established by the Commonwealth Bank Act 1911, introduced by the Andrew Fisher Labor government, which favoured bank nationalisation, with effect on 22 December 1911. [10] [11] In a rare move for the time, the bank was to have both savings and general bank business. The bank was also the first bank in ...
It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. [3] The bank's main policy role is to control inflation levels within a target range of 2–3%, by controlling the unemployment rate according to the ' non-accelerating inflation rate of unemployment ...
Banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, Australia & New Zealand Banking Group and National Australia Bank.There are several smaller banks with a presence throughout the country which includes Bendigo and Adelaide Bank, Suncorp Bank, [1] and a large number of other financial institutions, such as credit unions, building societies and mutual banks ...
Bank of Montreal: 990.19 39 China Everbright Bank: 955.14 40 NatWest Group: 882.30 41 UniCredit: 872.90 42 Commonwealth Bank: 868.74 43 Banco Bilbao Vizcaya Argentaria: 857.25 44 Standard Chartered: 822.84 45 La Banque postale: 815.91 46 Ping An Bank: 787.93 47 State Bank of India: 780.05 48 ANZ Group: 769.59 49 Canadian Imperial Bank of ...
Commonwealth Bank: 17.2% (2022) [5] Auckland, New Zealand: Westpac New Zealand: 31 October 2006 New Zealand retail banking subsidiary Westpac: 18% (2022) [6] Sydney, Australia: WBC NZ Branch: 1 April 1987 New Zealand registered branch of offshore banking group Auckland, New Zealand: Heartland Bank: 17 December 2012 New Zealand listed retail bank
Commonwealth Securities Limited, or CommSec, is Australia's largest online stockbroking firm. It is a subsidiary of the Commonwealth Bank . Though its Internet trading platform constitutes the vast majority of its business, it also offers a telephone based brokerage service, and investment advisory services. [ 1 ]
The new bank established a main office in Brisbane, and operated branches through the 194 post offices throughout Queensland which had been transferred to the Commonwealth after Federation, and which previously had acted as agencies for the (Queensland) Government Savings Bank (established in 1864 by act of Queensland Parliament).
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