The Commonwealth Bank of Australia The Commonwealth Bank of Australia ranks as one of the leading financial institutions in Australia and according from Fortune Global 500 it is number 41st in the world today. Under the legislation, the Commonwealth Bank Act ratified by Andrew Fisher, the bank was founded in 1911. The said legislation sanctioned the bank to conduct savings and general banking services. On year 2000, the Commonwealth Bank of Australia and Colonial Limited agreed to a merger, which resulted to a combined strength of two of the most powerful companies in Australia. Since then, Commonwealth Bank of Australia extended its operation with businesses in Asia, New Zealand and United Kingdom. With their vision to be Australia’s finest financial agent by providing excellent financial services, the bank was given due recognition is several consecutive years. Awarded as Bank of the Decade in 1999, and Best Bank for the years 1996, 200, 2002, the Commonwealth Bank of Australia still continually strives to maintain its stellar reputation. The Commonwealth Bank offers a comprehensive range of services in retail banking, which includes home loans, personal loans, credit cards, among others. Aside from this, the bank also provides commercial products and services to cater to big and small enterprises. With all these services, the bank maintains millions of clientele that are provided efficient and reliable services every single day. The Commonwealth Bank of Australia has a wide reach distribution network by establishing EzyBanking centers and a nationwide arrangement with the Australian Post. It also offers 24-hours access to all its banking services through telephones and EFTPOS and ATM networks. A leader in online banking, the bank have modern facilities that includes NetBank , HomePath, and the Commonwealth Securities. Aside from this, they have an independent financial advisory capability with highly trained and licensed investment analysts who provide expert financial advises. The Commonwealth Bank has instituted strategic and innovative alliances with emphasis on the utilization of technology to improve their customer service. With its partnership with Telecom New Zealand, all are made accessible through taking advantage of the telecommunications systems that has a nationwide reach. As an ultimate financial service provider, customers can be assured of flawless services and impeccable reputation that they have sustained for decades now. Through constant innovation, the bank competently keeps up with the demands of the modern world today. This is the main reason why they have established and maintained a top rank in the country’s banking and finance industry.