Profile - Commonwealth Bank
Parent Company: Commonwealth Bank of Australia
Brand Value: $16,412 Mil.
Headquarter City: Darling Harbour, Sydney
Year Formed: 1911
The largest of Australia’s “Big Four” banks, ranked #1 in our BrandZ report and a 2018 BrandZ Global Top 100 company, Commonwealth Bank of Australia (CBA) is one of the largest companies in Australia’s history. Launched in Melbourne in 1912, the bank grew quickly leading the industry across all major categories. By 1959, CBA had become so powerful that the government created the Reserve Bank of Australia to assume the country’s central banking activities, allowing CBA to focus and continue its growth in the B2B and consumer banking segments. Since that time, CBA expanded outside the country and is now operating in New Zealand, Europe and Asia. Fueling its growth, some of the key strategic acquisitions include well-known rivals Bankwest (2008) and Colonial First State (2000). Despite recent industry events that have challenged the reputation of Australia’s banking sector in general and CBA in particular, CBA continues to demonstrate strong financial performance. In 2017, the CBA generated over AU$26 billion in revenues with nearly AU$10 billion in net income on assets of over AU$976 billion. CBA employs over 51,000 people, with 1,100 branches.