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The Commonwealth Bank of Australia was established by the Commonwealth Bank Act 1911, introduced by the Andrew Fisher Labor government, which favoured bank nationalisation, with effect on 22 December 1911. [10] [11] In a rare move for the time, the bank was to have both savings and general bank business. The bank was also the first bank in ...
The headquarters and main branch of CBA Tanzania Limited are located at Amani Place, along Ohio Street, in Dar es Salaam, Tanzania's largest city and financial capital. [5] The geographical coordinates of the bank's headquarters are: 06°48'42.0"S, 39°17'15.0"E (Latitude:-6.811667; Longitude:39.287500).
In December 2018, CBA Group announced that it would be merging with NIC Group Plc creating Kenya's third-biggest bank. [15] The merger involved the transfer of 100 percent of the shares of CBA Group by its shareholders to NIC Group in exchange for 53 percent of the newly formed group, making the deal a reverse merger. [16]
It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. [3] The bank's main policy role is to control inflation levels within a target range of 2–3%, by controlling the unemployment rate according to the ' non-accelerating inflation rate of unemployment ...
The acquired assets and liabilities, including two operational branches in Kigali, are expected to be merged with the existing micro-finance operations of CBA Rwanda. [4] On 19 March 2018, the refurbished branches of Crane Bank Rwanda, opened as CBA Bank Rwanda, a commercial bank. [3] [11]
In December 2018, NIC Group announced that it would be merging with Commercial Bank of Africa Group (CBA) creating Kenya's third-biggest bank. [11] The merger involved the transfer of 100 percent of the shares of CBA Group by its shareholders to NIC Group in exchange for 53 percent of the newly formed group making the deal a reverse merger .
The bank is a member of the Commercial Bank of Africa Group (CBA Group), headquartered in Nairobi, Kenya. [5] NCBAU serves the banking needs of individuals and businesses in Uganda. It focuses on meeting the banking needs of large corporations, diplomatic missions, non-governmental organizations, and high net-worth private clients.
CBA was licensed by the Central Bank of Kenya, the central bank and national banking regulator. [ 2 ] As of December 2015 [update] , the bank was one of the largest commercial banks in Kenya with assets of approximately US$2.166 billion (KES:215.6 billion), with shareholders' equity of approximately US$217.83 million (KES:21.68 billion). [ 1 ]