|Bid||79.00 x 357800|
|Ask||79.20 x 1790800|
|Day's range||78.33 - 79.26|
|52-week range||69.22 - 87.74|
|PE ratio (TTM)||14.68|
|Dividend & yield||3.96 (6.23%)|
|1y target est||83.47|
Australia's biggest bank has admitted failures costing staff and customers millions of dollars as the troubled lender faces legal action over alleged breaches of money laundering and terror financing laws. The Commonwealth Bank of Australia (CBA) was thrown into turmoil by a civil case launched earlier this month by financial intelligence agency AUSTRAC for alleged "serious and systemic non-compliance" with the laws. The case has overshadowed record annual profits and forced the bank to announce the retirement of its chief executive.
The chief executive of Australia's biggest bank, the Commonwealth, will retire, the company said Monday, amid pressure from regulators over alleged breaches of laws on money laundering and terrorism financing. The bank's chairwoman Catherine Livingstone said in a statement to the stock exchange that Ian Narev "will retire by the end of the 2018 financial year". Narev faced calls to step down last week after the financial intelligence agency AUSTRAC launched a civil action against the bank alleging "serious and systemic non-compliance" with the laws more than 53,000 times.
Australia's corporate regulator said Friday it would investigate the nation's biggest bank, the Commonwealth, over its handling of alleged breaches of money laundering and terrorism financing laws. The Commonwealth Bank of Australia (CBA) was already been under fire after it was taken to court in a civil case last week by financial intelligence agency AUSTRAC for "serious and systemic non-compliance" of the laws more than 53,000 times. Now the Australian Security and Investment Commission (ASIC) regulator said it was probing whether the bank complied with continuous disclosure obligations and if its directors carried out their duties under the Corporations Act.