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Banking Group KIS June 09

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					Commonwealth Bank of Australia - New Zealand Operations
Key Information Summary - Banking Group

                                                                                                                     June 2009 (Audited)
Introductory Information

The purpose of this Key Information Summary is to provide customers and potential customers with information about the financial
condition of their bank. The information contained in the Key Information Summary is explained in the Reserve Bank publication “Your
Bank’s Disclosure Statement – What’s In It For You?”, which can be obtained from the Reserve Bank.

1.0   Corporate Information

      The Overseas Bank is the Commonwealth Bank of Australia, domiciled in Australia. The Overseas Banking Group is the
      Commonwealth Bank of Australia including subsidiary activities worldwide.

      The Commonwealth Bank of Australia’s operations in New Zealand comprise two distinct areas; the banking activities undertaken
      within ASB Holdings Limited and Commonwealth Bank of Australia New Zealand Branch (the “Banking Group”), and the life
      insurance activities undertaken within ASB Group (Life) Limited, Colonial Mutual Life Assurance Society Limited New Zealand
      Branch, Colonial First State Investments (NZ) Limited, Colonial First State Investment Managers (NZ) Limited and Colonial Holding
      Company Limited New Zealand Branch (the “Life Group”). In order to enable the reader to better understand the individual
      components of the New Zealand operations, separate Key Information for each group has been disclosed.

      The Commonwealth Bank of Australia does not conduct any non-financial activities in New Zealand.

2.0   Credit Ratings

      Ratings currently assigned to the Commonwealth Bank of Australia’s long term debt are:


                            Rating Agency                             Current Long Term Rating                      Outlook

      Fitch Ratings                                                               AA                                  Stable

      Moody's Investors Service, Inc.                                             Aa1                               Negative

      Standard & Poor's (Australia) Pty Limited                                   AA                                  Stable


      The Fitch rating was assigned as AA and has remained unchanged since 1999. The Moody's rating was raised to Aa1 from Aa3 on 4
      May 2007. The Standard and Poor's rating was raised to AA from AA- on 21 February 2007.

3.0   Government Guarantees

      On 12 December 2008 the Australian Government announced guarantee arrangements for deposits and wholesale funding of
      Australian deposit-taking institutions. Commonwealth Bank of Australia is an eligible Authorised Deposit-taking Institution ("ADI")
      under the terms of the guarantee arrangements. The guarantee arrangements also apply to the Commonwealth Bank of Australia
      New Zealand Branch, as a foreign branch of an eligible institution. Details of the guarantee are available at the Australian Treasury
      website www.treasury.gov.au. More information about the guarantee is also available in the Banking Group’s General Disclosure
      Statement
      Commonwealth Bank of Australia New Zealand Branch does not have a guarantee under the New Zealand Deposit Guarantee
      Scheme (“New Zealand Scheme”) or the New Zealand Wholesale Funding Guarantee Facility ("New Zealand Wholesale Funding
      Guarantee"). However, ASB Bank Limited a member of the Banking Group with its own separate banking licence is guaranteed
      under the New Zealand Scheme and the New Zealand Wholesale Funding Guarantee. Information on the New Zealand guarantees
      is available on the Treasury website www.treasury.govt.nz.

4.0   Profitability

                                                                      Overseas Banking Group                   NZ Banking Group
                                                                     12 months       12 months             12 months       12 months
                                                                       ended           ended                 ended           ended
                                                                    30 Jun 2009     30 Jun 2008           30 Jun 2009     30 Jun 2008
                                                                       AUDm            AUDm                  NZDm            NZDm


       Net Profit after Taxation                                        4,723             4,791               379               490



       As a % of Average Total Assets                                   0.9%               1.0%              0.5%               0.8%
Commonwealth Bank of Australia - New Zealand Operations
Key Information Summary - Banking Group (continued)

5.0   Size


                                                                     Overseas Banking Group               NZ Banking Group
                                                                  At 30 Jun 2009   At 30 Jun 2008   At 30 Jun 2009   At 30 Jun 2008
                                                                      AUDm             AUDm             NZDm             NZDm

       Total Assets                                                  620,372          487,572          72,056           66,323


       % Change in Total Assets from Previous 12 Months               27.2%            10.8%            8.6%             13.3%


6.0   Capital Adequacy


                                                                            Overseas Bank              Overseas Banking Group
       Basel II                                                   At 30 Jun 2009   At 30 Jun 2008   At 30 Jun 2009   At 30 Jun 2008

       Tier One Capital as a % of Risk-weighted Exposures             8.8%             8.4%             8.1%             8.2%


       Minimum Tier One Capital (%) required by Australian
       Prudential Regulation Authority (APRA)                         4.0%             4.0%             4.0%             4.0%


       Total Capital as a % of Risk-weighted Exposures                10.5%            10.3%            10.4%            11.6%


       Minimum Total Capital (%) required by Australian
       Prudential Regulation Authority (APRA)                         8.0%             8.0%             8.0%             8.0%


7.0   Asset Quality

                                                                           Unaudited                         Unaudited
                                                                     Overseas Banking Group               NZ Banking Group
                                                                  At 30 Jun 2009   At 30 Jun 2008   At 30 Jun 2009   At 30 Jun 2008
                                                                      AUDm             AUDm             NZDm             NZDm

       Total Individually Impaired Assets Before Provisions for
       Impairment and net of Interest held in Suspense                4,210             683              420              30

       Total Individually Impaired Assets Before Provisions for
       Impairment and Net of Interest held in Suspense as a           0.7%             0.1%             0.6%             0.1%
       % of Total Assets of the Group


       Total Individually Assessed Provisions                         1,729             279              124              22


       Total Individually Assessed Provisions as a % of Total
       Individually Impaired Assets Before Provisions for             41.1%            40.8%            29.5%            73.3%
       Impairment and Net of Interest Held in Suspense


       Total Collective Provision                                     3,225            1,466             199              100


       Non-financial Assets Aquired through Enforcement of
       Security                                                         -                   -             -                -
Commonwealth Bank of Australia - New Zealand Operations
Key Information Summary - Banking Group (continued)

8.0   Peak Credit Exposure Concentrations

      There were no credit exposures (net of provisions) for the Banking Group, with respect to individual and groups of closely related bank
      and non-bank counterparties, which equalled or exceeded 10% of the Commonwealth Bank of Australia’s 30 June 2009 equity (30
      June 2008 Nil).

9.0   Ranking of Local Creditors in a Winding Up

      Under Section 13A(3) of the Banking Act 1959 of the Commonwealth of Australia, if an Authorised Deposit-taking Institution ("ADI")
      (which includes a bank) becomes unable to meet its obligations or suspends payment, the assets of the ADI in Australia are to be
      available to meet the ADI’s liabilities in the following order: (a) first, the ADI's liabilities to APRA, to the extent that APRA has made, or
      is required to make, payments to depositors under the Financial Claims Scheme; (b) second, the ADI's debts to APRA for costs
      incurred by APRA in the administration of the Scheme in respect of that ADI; (c) third, in payment of the ADI's deposit liabilities in
      Australia (other than liabilities covered under paragraph (a)); and (d) fourth, the ADI's other liabilities.

      Section 16 (1) and (2) of the Banking Act 1959 of the Commonwealth of Australia provide that, despite anything contained in any law
      relating to the winding up of companies, but subject to Section 13A(3) of the Banking Act 1959, the debts of an ADI to the Australian
      Prudential Regulation Authority (APRA) in respect of APRA’s costs (including costs in the nature of remuneration and expenses) of
      being in control of the ADI’s business or of having an administrator in control of the ADI’s business have priority in a winding up of the
      ADI over all other unsecured debts.

      Section 86 of the Reserve Bank Act 1959 of the Commonwealth of Australia provides that notwithstanding anything contained in any
      law relating to the winding up of companies, but subject to Section 13A(3) of the Banking Act 1959, debts due to the Reserve Bank of
      Australia by an ADI shall, in the winding up, have priority over all other debts other than debts due to the Commonwealth of Australia.
      The Commonwealth Bank of Australia is an ADI.

8.1   Requirement for Commonwealth Bank of Australia to maintain sufficient assets in Australia to cover an ongoing obligation
      to pay deposit liabilities in Australia

      Section 13A(4) of the Banking Act 1959 of the Commonwealth of Australia states that it is an offence for an ADI not to hold assets in
      Australia of a value that is equal to or greater than the total amount of its deposit liabilities in Australia, unless APRA has authorised
      the ADI to hold assets of a lesser value. This requirement has the potential to impact on the management of the liquidity of the New
      Zealand operations of the Commonwealth Bank of Australia in extreme circumstances.


10.0 Financial Statements of Commonwealth Bank of Australia

      Financial statements for insurance business conducted in New Zealand outside the Banking Group are included with the financial
      statements for the Banking Group in the Commonwealth Bank of Australia New Zealand Operations General Disclosure Statement. A
      copy of the General Disclosure Statement is available with a copy of the most recent publicly available financial statements of the
      Commonwealth Bank of Australia. Copies of both documents will be provided at no charge to any person requesting a copy where the
      request is made at the head office of the New Zealand Branch:

      Commonwealth Bank of Australia New Zealand Branch
      Level 21, ASB Bank Centre
      135 Albert Street
      Auckland 1010
      New Zealand

      A copy of the Commonwealth Bank of Australia New Zealand Operations most recent General Disclosure Statement is available on
      the ASB Bank website (www.asb.co.nz), under the CBA Institutional Banking tab within the Business Banking section. A copy of the
      most recent financial statements of the Commonwealth Bank of Australia is available via the website (www.commbank.com.au).
Commonwealth Bank of Australia - New Zealand Operations
Key Information Summary - Life Group

                                                                                                                      June 2009 (Audited)
Introductory Information

The purpose of this Key Information Summary is to provide customers and potential customers with information about the financial condition
of their bank.

The information contained in the Key Information Summary is explained in the Reserve Bank publication “Your Bank’s Disclosure Statement
– What’s In It For You?”, which can be obtained from the Reserve Bank.

Guarantee Arrangements are outlined in Part A Commonwealth Bank of Australia New Zealand Banking Group Key Information Summary.

The Commonwealth Bank of Australia does not conduct any non-financial activities in New Zealand.

1.0   Corporate Information

      The Overseas Bank is the Commonwealth Bank of Australia, domiciled in Australia. The Overseas Banking Group is the
      Commonwealth Bank of Australia including subsidiary activities worldwide.

2.0   Credit Ratings

      Ratings currently assigned to the Commonwealth Bank of Australia’s long term debt are:


                            Rating Agency                             Current Long Term Rating                       Outlook

       Fitch Ratings                                                               AA                                 Stable

       Moody's Investors Service, Inc.                                            Aa1                                Negative

       Standard & Poor's (Australia) Pty Limited                                   AA                                 Stable

      The Fitch rating was assigned as AA and has remained unchanged since 1999. The Moody's rating was raised to Aa1 from Aa3 on 4
      May 2007. The Standard and Poor's rating was raised to AA from AA- on 21 February 2007.



      Rating currently assigned to Sovereign Assurance Company Limited's ability to meet its ongoing obligations to policyholders:


                            Rating Agency                             Current Long Term Rating                       Outlook

       A.M. Best Financial Strength Rating                                         A+                                 Stable


      The A.M. Best Financial Strength rating was upgraded on 28 December 2007.



3.0   Profitability

                                                                                                  Audited
                                                                                                 Life Group
       $ millions                                                           At 30 Jun 2009                        At 30 Jun 2008


       Net Profit before Taxation                                                  90                                   125



       Net Profit after Taxation                                                   85                                   103



       As a % of Average Total Assets                                             2.5%                                 2.8%


On 1 July 2008 the Life Group sold 100% of the ordinary capital of Aegis Limited, ASB Group Investments Limited, Investment Custodial
Services Limited and Jacques Martin New Zealand Limited to fellow subsidiary of CBA, ASB Bank Limited for consideration of $58m cash
and cash equivalents, with a Gain on Sale of $48m. The Life Group has recorded the Gain on Sale of the above entities in Net Profit after
Tax during the year ended 30 June 2009. Net Profit before Taxation disclosed above is for continuing operations only and consequently
does not include this gain on sale of operations.
Commonwealth Bank of Australia - New Zealand Operations
Key Information Summary - Life Group (continued)
4.0   Size

                                                                                                                     Audited
                                                                                                                    Life Group
       $ millions                                                                                        At 30 Jun 2009 At 30 Jun 2008


       Total Assets                                                                                            3,249              3,584



       % Change in Total Assets from Previous 12 Months                                                       (9.3%)             (5.8%)


5.0   Equity
                                                                                                                     Outlook
                                                                                                                     Audited
                                                                                                                   Life Group
       $ millions                                                                                       At 30 Jun 2009 At 30 Jun 2008


       Total Shareholders' Equity                                                                              1,016               918



       % Change in Total Shareholders' Equity from Previous 12 Months                                         10.7%               9.4%


6.0   Asset Quality

                                                                                                                     Audited
                                                                                                                    Life Group
       $ millions                                                                                        At 30 Jun 2009 At 30 Jun 2008


       Total Impaired Assets before provisions for impairment and net of interest reserved                       1                  1



       Total Impaired Assets before provisions for impairment and net of interest reserved as a
                                                                                                               0.0%               0.0%
       percentage of total assets of the Group


       Total Individually Assessed Provisions                                                                    1                  1



       Total Individually Assessed Provisions as a percentage of total Impaired Assets before                 100.0%             100.0%
       provisions for impairment and net of interest reserved


7.0   Peak Credit Exposure Concentrations

      There were no credit exposures (net of provisions) for the Life Group, with respect to individual and groups of closely related bank and
      non-bank counterparties, which equalled or exceeded 10% of the Commonwealth Bank of Australia’s 30 June 2009 equity (30 June
      2008 Nil).


8.0   Financial Statements of Commonwealth Bank of Australia

      Financial statements for banking activities conducted in New Zealand outside the Life Group are included with the financial statements
      for the Life Group in the Commonwealth Bank of Australia New Zealand Operations General Disclosure Statement. A copy of the
      General Disclosure Statement is available with a copy of the most recent publicly available financial statements of the Commonwealth
      Bank of Australia. Copies of both documents will be provided at no charge to any person requesting a copy where the request is
      made at the head office of the New Zealand Branch:

      Commonwealth Bank of Australia New Zealand Branch
      Level 21, ASB Bank Centre
      135 Albert Street
      Auckland
      A copy of the Commonwealth Bank of Australia New Zealand Operations most recent General Disclosure Statement is available on
      the ASB Bank website (www.asb.co.nz), under the CBA Institutional Banking tab within the Business Banking section. Also a copy of
      the most recent financial statements of the Commonwealth Bank of Australia is available via the website (www.commbank.com.au).

				
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