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Commonwealth Bank Of Australia Case Study

1478 Words6 Pages

The Commonwealth Bank of Australia (CBA) is one of the biggest banks in Australia with nationally having over 4300 ATM’s, 3700 Australian post agencies and 1100 branches resulting in the CBA operating the largest of financial services distribution network in the country. The CBA also have over 4.6 million online customers and are the first bank in Australia along with one of the first few banks in the world to be able to transact at any hour in real time. The CBA was established in 1911 by an act of parliament called ‘The Commonwealth Bank act’ and began operations in 1912. When first established, there was only one bank which was located at 317 Collins Street Melbourne. There were also 489 agencies set up in post offices throughout Victoria. …show more content…

Allegations have been made against former technology Chief Michael Harte on the belief that he received $2 million dollars for awarding contracts to contracts to US supplier ServiceMesh. In the past few years, CBA’s technology department has provided CBA with leading financial technology giving them an edge over the other big banks but after the recent Allegations made against Harte, investors will be questioning their future with the bank which could result in a serious affect on CBA’s share price if the situation is not resolved correctly as it is a very delicate situation the board of CBA has to deal with. The second article is from the CBA website and is about the retirement of board member Carolyn Kay and her replacement Wendy Stops. CBA recently reported that board member Carolyn Kay will be retiring on the 30th of March 2015 and Wendy Stops will be here replacement who was immediately placed on the board once she had been selected for the position. Carolyn Kay has been a part of the CBA board of directors for 12 years and made significant contributions to the bank and has been shown gratitude by David Turner who spoke for each of the …show more content…

With technology being a major part in the company’s future as stated in the CBA 2014 annual report, these allegations against the former technology Chief the bank will have to re-evaluate their short term business plan. But even though the allegations against Harte could greatly affect the company’s share price, it will most likely not affect the company for long as the CBA has shown from its past that they will bounce back shortly after the

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