Commonwealth Bank Group Statement of Commitment to Reconciliation

6 December 2007

The Commonwealth Bank Group is one of Australia’s leading providers of integrated financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services. The Bank has the largest customer base of any Australian bank and employs more than 35,000 people.

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

We aim to:

  • be ‘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 customer service. We also want to be known as a great company to bank with, work in and invest in.

The Group’s strategic direction acknowledges that our community involvement needs to connect with and enrich the communities in which we operate - through our people and our partnerships. Our partnerships make a difference to Australians from many different walks of life and in a number of different ways.

Our vision drives our commitment to Indigenous Australians many of whom face significant social, economic and financial disadvantage. We believe that sustained effort and enduring commitment by governments, business and the community can help to improve the lives and livelihood of Indigenous people and communities.

Building on the work currently being undertaken by the Commonwealth Bank Group and the Commonwealth Bank Foundation, the aims of our action plan will be to:

  • To develop and strengthen our relationships with Indigenous stakeholders and the communities they represent.
  • To support Indigenous education initiatives, particularly those with a focus on programs that will develop and improve financial literacy skills of Indigenous Australians.
  • To raise awareness of the aspirations, culture and achievements of Indigenous Australians amongst our staff and the community that we serve.
  • To employ, develop and promote Indigenous people across the Group and identify mentoring opportunities for young Indigenous people interested in joining the financial services industry.
  • Continue to undertake transformational change to our culture, service systems and people engagement models to improve our customer service focus for our indigenous customers.

These aims will be developed into a detailed Reconciliation Action Plan to be launched in early 2008.