Which Bank? The Commonwealth

As the name implies, a bank for everyone? a bank for the commoners? a bank owned by the state / government? In actual fact, the name cannot be further from reality, a fact deliberately omitted by the ACCC as FALSE ADVERTISING.

Each branch of the Commonwealth Bank is privately owned, i.e an Autonomous business, which is 50% owned by the bank's branch director, a fact NOT publicly mentioned.

A few years ago, consumers were angry at branches closing, in the remote Outback, in areas deemed by the director, as non profitable, as it was NOT about providing a service for the people, as previously named banks (e.g State Bank) suggested, but about profiteering.

Naturally, as with ALL private businesses, it is susceptible to 'bankruptcy', a trend that will emerge later.