Commonwealth Bank Challenges

In the next few paragraphs I will be talking about The Commonwealth Bank, an Australian company that has gone into a foreign market. Any business faces challenges that I will be highlighting and also the challenges that The Commonwealth Bank faced. I will also highlight the points that The Commonwealth Bank benefited from.

The Commonwealth Bank is Australia's driving supplier of financial services and related administrations including retail banking, premium keeping money, business banking, institutional banking, reserves administration, superannuation, protection, investment and share broking items and administrations. The Group is one of the biggest recorded organizations on the Australian Securities Exchange and is incorporated into the Morgan Stanley Capital Global Index. The Commonwealth Bank is known globally for their business in New Zealand where they go by the

Provide a description of the industry size and growth and any prevailing trends.

- Over the past five years, the Finance division has endured a challenging trading environment, with economic uncertainty continuing to affect the industry.

c. Describe any government policies, foreign direct investment and trade barrier that impact the industry in general and your company specifically.
- Australia's banking regulation is extensive and detailed. It is split mainly between the Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC).
- Banks are also subject to obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 as "reporting entities". They are required to identify and monitor customers using a risk-based approach, develop and maintain a compliance program, and report to Australian Transaction Reports and Analysis Centre (AUSTRAC) suspicious matters and certain cash transactions and file annual compliance reports.

5. Going Global
a. Why an international focus is important for your business- why go