Commonwealth Bank History

This essay talk about the history of commonwealth bank. It also talks about Skills and responsibity required being a branch manager at common wealth bank.

The commonwealth bank was found in 1911 under the commonwealth bank act and commenced operations in 1912. Today the bank has grown with 800,000 shareholders and 52000 people working in the bank group. Under the commonwealth bank Act it was allowed to carry on with savings and general bank business with the security of federal government guarantee. No any other bank had federal government guarantee at that time. Twelve member staff led by first governor, Mr. Denison miller opened the bank in 15 July 1912 for business. Throughout 1960s banking development took place. During 1970s bank operation expanded in the fields of home insurance and travel as a result commonwealth bank finance corporation ltd was found in the same year. As the technology advancement bank online computer network was complete on 15 July 1985. In 1974 with the lunch of bankcard credit and debit cards came in use as the basis for money transactions and keycard in

Currently the management team is lead by Ian Narev managing director and chief executive officer. Chief executive officer required high knowledge and skill to run the management team of a bank. A manager has the responsibility for planning and directing the work of a group of people, taking corrective action and monitoring their work. Managers have power or authority to assignee or change the work assignments of employee. (Commonwealth bank of Australia, 2014)

To be a successful bank manager plays significant role. Manager has various responsibilities to carry on different stage of the management. A bank manager has some of the responsibility such meeting with customers and resolving any problems or complaints, ensuring high level of customer service and reporting to head office. (2003-2014