SYDNEY, AUSTRALIA: Commonwealth Bank of Australia (CBA) it has entered into a binding agreement to sell its 99% shareholding in its Indonesian banking subsidiary, PT Bank Commonwealth (PTBC), to PT Bank OCBC NISP Tbk (OCBC Indonesia), a subsidiary of Oversea-Chinese Banking Corporation Limited (OCBC) for an upfront cash consideration of approximately A$220m. CBA has been…
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Commonwealth Bank unveils new app and AI features to enhance customer experience
Sydney, Australia: Commonwealth Bank has today announced a series of innovations and technological advances designed to strengthen and deepen the customer experience as increasing numbers of customers switch to digital banking. The bank has launched a refreshed version of its multi-award winning CommBank app, which will offer even more personalised, relevant and safe customer experiences.…
CBA to sell 10% shareholding in Bank of Hangzhou for $1.8bn
SYDNEY, AUSTRALIA: Commonwealth Bank of Australia (CBA) has entered into a binding sale agreement to sell a shareholding of 10% in Bank of Hangzhou (HZB) to Hangzhou Urban Construction & Investment Group and Hangzhou Communications Investment Group, which are entities majority-owned by the Hangzhou Municipal Government. Total gross proceeds expected to be received by Commonwealth…
CBA to merge Aussie Home Loans with Lendi
SYDNEY: Commonwealth Bank of Australia (CBA) has entered into an agreement to merge Aussie Home Loans with Lendi, a leading online home loan platform, a news release said. The merger will bring together Aussie’s significant network, strong brand and deep experience in supporting customers with their property goals, with Lendi’s leading technology and platform. The…