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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 ...
The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. 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]
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 ...
A longstanding policy of the Federal Government in Australia has been to maintain this status quo, called the four pillars policy. The policy has been maintained through the Global Recession of 2008–09, as Westpac acquired St George Bank and the Commonwealth Bank acquired Bankwest, reinforcing the special status of the "big four".
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Prior to his appointment to the Future Fund, Murray was the Chief Executive Officer of the Commonwealth Bank between 1992 and 2005. In Murray's 13 years as Chief Executive, the Commonwealth Bank transformed from a partly privatised bank with a market capitalisation of $6 billion in 1992 to a $49 billion integrated financial services company, [2] generating in the process total shareholder ...
Matt Comyn is an Australian business executive and the current chief executive officer (CEO) of Australia's Commonwealth Bank, one known to be a part of the "Big Four Banks". Having been with the bank since 1999 (aged 24), [1] [2] Comyn became the CEO in April 2018, taking over from Ian Narev.
A branch in Ponsonby, Auckland. ASB Bank Limited, commonly stylised as ASB, is a bank owned by Commonwealth Bank of Australia, operating in New Zealand.It provides a range of financial services including retail, business and rural banking, funds management, as well as insurance through its Sovereign Limited subsidiary, and investment and securities services through its ASB Group Investments ...