Strategy

Our vision

The Commonwealth Bank’s vision is to be Australia’s finest financial services organisation through excelling in customer service.

We aspire to:

• have people that are engaged, passionate and valued
• provide a service experience our customers appreciate
• deliver top quartile returns to our shareholders
• be respected and admired in our community.

We want to be the financial services organisation chosen by customers because of our outstanding service. Ultimately, we want to be known as a great company to bank with, work in and invest in.

Our strategy

We recognise there are significant opportunities within our businesses to create even more value for our customers, our people and our shareholders.

Our strategy focuses on five priority areas and emphasises the importance of getting the basics right - first time, every time.

1. Customer service

Improving customer service is our highest priority. We want our customers to experience our people as knowledgeable, proactive, friendly and able to meet their needs.

This will be achieved by:

• ensuring a Group-wide focus on sales and service disciplines
• improving customer engagement
• ensuring the Commonwealth Bank is easy to do business with
• providing value-for-money products and services. 

2. Business banking

We want to be regarded as the business banking partner of choice.

To enhance our position in the market, we are:

• simplifying policies and procedures
• investing in technology solutions
• expanding our business banking footprint by extending business banking services and refining the sales model to ensure it meets evolving customer needs.

3. Technology and operational excellence

We need to make the best use of our technology resources so our people and customers are supported by best practice technologies and processes, now and in the future.

To ensure we do this, we are:

• leveraging technology capabilities and expertise to revitalise systems and processes
• implementing smarter sourcing
• continuing to develop lean and efficient processes
• employing a Group-wide approach to IT.

4. Trust and team spirit

Trust and team spirit focuses on achieving a culture of teamwork and collaboration where our people feel engaged, passionate and valued.  

This will be realised by:

• our continual investment in talent management and rotation programs
• our focus on the wellbeing and safety of our people
• our ability to build our people’s pride in the Commonwealth Bank through increased community involvement.

5. Profitable growth

Our aspiration is that our growth will strengthen our leading shares across chosen segments and products.

We aim to achieve this by:

• continuing our focus on offshore growth
• building on our strong foundation
• increasing our cross-sell potential
• offering customers the full range of our products and services.