(Australia) The Commonwealth Bank has been named Australia’s Best Local Bank by FinanceAsia magazine for the second year in a row.The publication said it gave the CBA the award because the bank’s dominant share of retail and corporate accounts provided it with an advantage over its competitors.
FinanceAsia complimented the bank’s Institutional Banking division for its involvement in landmark loan syndications over the past 12 months, such as its role as joint arranger of a $3.95 billion facility for Southern Cross Airports.