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hBank THE MARKET n,e

hBank THE MARKET n,e banking 111dUStry 111 Austr nlrn operates u n hrClhly compotrtrvc env •onment A nnture Industry, rt consrsts ol bO opor11tronn1 tmnks 21 At,strn nr1 prvatt:~ly owned arxJ 29 •ore ~Jn ovvned. The industry s renulate< I by tne Reserve S.;1r "of Australia, a statutOI)' agency ,,..hose respons 01 ties uJCiude man.1g ng oromoling and peseMng t•~e slab tv, nteenods •lCfea&-""d market cornpetrtw tecnnologi~a 11 novahon,

card or 1ts type 1n AJstralia to orrer secured and unsecured lend ng for small to med um stzed businesses RECENT DEVELOPMENTS T11e most Significan t event1n recent times and a landmark lor the Commonwealth Bank has been t11e sale of the Government's remaining 50.39% share holo1ng 1n the Bank in 1996. Marktng the cu1minat1on ol the pnvatisation process begun in 1991. 11 signalled the end of one era and begn1n1ng ol another lor the Bank OUJtng these cl1anging limes the Bank has retauted 1ts competitive edge by oevelop1ng a host of new and alternat1ve financial nroducts nnd serv1ces locused on customer needs. In prov1ding customers wi tt1 a variety of new tec11no!ogy and distribution channels for easy access and convenience, the Commonwealth Ban;.; introduced NetBank in 1996, an internet transact ton bank•ng service ofie11ng personal and bus1ness customers 24 hours a day. seven days a week banktng serv1ces Adoitionally the Bank exponded 1ts telepl1one banktng serv1ces to provide account transacting over the phone in aodlt1on to !lome. 1nvestment and account apphCDIIOnS. In remain1ng focusRd on its cornpelllNe pos1Uon 1n the home lending market, the Bank cut 1ts 11ome loan variable Interest rate several umes 111 1 996 and 1 997 to prov1de customers wiH1 responsive servtce. anci a range or competitiVe 110me lend•ng products. In responding to customer needs, and focusing on the customer-bank relationship. the Bank in the past year i1as led the way with new customer loyalty programs and reward accounts. "True Awards' and ''AwardSaver·. reward ng customers for doing bus1ness with the Commonwealth Bank. Tt1e Bank t1as also continued its successful development or linanc1a1 servtce products. integrating H1e Bank's l1nanc1al serv•ces group, "Commonwealth Financial Services" with banking bustness un1ts to offer the convenience at a one stop shop for financtal serv1ces. The Commonwealth Bank 1n 1997 was the f1rst bank in Australia to offer a Retirement Sav1ngs Account, a simple tow cost supcrannuatton account for customers. providing a wider range or products and serv1ces. One or tt1e Bank's most recent developments to date has been the announcement to form a strateg1c technology partnershtp with global information technology company. Electronic Data Systems. In one of the world's largest informa tton technology alliances, the Bank cont1nues to revtew 1ts operat1onat efficiencies and adopt world wtde best practices providing an integrated compel•tive financial services organisation. PROMOTION In 1991 the Commonwealth Bank embarked upon t11e biggest corporate s1gnage convers•on 1n Australian history. A new corporate ident•ty was adopted. based on the formation of tile Southern Cross constellation. The des1gn was selected to communtcate the Bank as strong, modem and progress1ve. Australia's leading bank. Dynamtc, respons•ve, and ready for future changes, t11e Bank's corporate logo IS strategically branded 011 all visual merchandising, signage. stationery, advertJs1ng and promotional matenals, ac1oss the Commonwealth Bank group. Designed to be tnstantiy recognised. tt1e Bank has today ach:eved one of the h1gl1est recognit1on rates of logo identity 111 Australia. An astute advert•ser, the Bank focuses on pnnt, lV, radio and direct mal., linking and support1ng its advertising and sales promotions w•lh strong visual merct,and1S1ng Wlth•n all branches The Bank's advertiSing success can be largely credited to use ot the "Wh1ch Bank" theme. One of the best recognised tag lines of the decade, Bank research shows that 89% of those surveyed associated the tng line with the Commonwealth Bank. (Source : Wallis Consulting Group. Aoverttstng and Image media monitor, May 1 997). Due to its success. the 'WhiCh Bank" theme was relaunched in Apnl 1996. The theme is Incorporated 111 the Bank's advertts1ng vvhich higl1tights the Bank's brand. a leading Australian Bank that is competitive and respons1ve to the changing financial needs of customers. The Commonwealth Bank is proud to be an act1ve supporte1 of community events and organi sations. The Bank's sponsorship ana donation portfolio 1s vast. supporting a number of heritage. environmental, educat•on. science & technology. health. med1cal research, sport. and cultural activ1ties. Some of the Bank's chief sponsorships tnclude the Australtan Chamber Orchestra, Opera Australia. The Australian Ballet. The National Trust -n and the Commonwealth Bank Cncket Academy. Its most 1ecent sponsorship, of netball, is the Commonwealth Bank Trophy •nillattng the Bank as a lead supporter in women's sport. The Bank acttvely seeks ways il can assist v .. nth develop•ng I he Aust1 alian community tn fields of health and medical research. A number of organtsat•ons have benef1ted from the Bank's support includtng the Microsearch Foundalion. B:Jne Marrow Donor Institute. ANZAC Health and Medtcal Research Foundat1on. and Royal Hospital fo1 Women. BRAND VALUES The Commonwea~l'lBank has become noted lor its he1itage and strengtn as Aust1alia's leading bank. Its name, corporate tdent1ty and Australian characte1 is distinctively recogn1sable The Commonwealth Bank is a b'and that has olways responded to challenge. progress and competition in providing new and Innovative products and effictent serv•ces to meet tl'le current and futUJe f1nanc1al need of 1ts customers. The Bank's values are based on helping Australians reach their goals and tt has achieved recogn1t1on as a strong. large. safe. and competitive hnanc•al institution tn the bank1ng ma~et. The Bank's brand values are based in Its vision to remain a market leader. becoming a prov1der of fully Integrated !1nanc1al services ~ Things you didn't know about The Commonwealth Bank 0 13 of the 18 crlcket players selected tor the 1997 Australian cricket tour to the UK are graduates of the Commonwealth Bank Cncket Acaderny. 0 The Cornrnonwea th Bank processes over four million transactions each WOO

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