Commonwealth Bank of Australia (OTCMKTS:CMWAY), commonly known as CommBank, is an Australian financial services group headquartered in Sydney. Established by the Australian government in 1911 and fully privatized in the 1990s, the bank provides banking and financial services to individuals, businesses, institutions and government customers.
Its principal activities include retail and business banking, home and personal lending, transaction and savings accounts, credit cards, payments, deposits, insurance and foreign exchange services. Commonwealth Bank also offers institutional banking and capital-markets services, including lending, trade finance, cash management and risk-management solutions. Its digital banking products are delivered through online platforms and the CommBank mobile application.
The group primarily serves customers in Australia and also operates in New Zealand through ASB Bank, which provides retail, business and institutional banking services. Commonwealth Bank is led by Chief Executive Officer Matt Comyn, who has held the position since 2018, and Chair Paul O’Malley.
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