Founded in 1911 by the Australian government, the Commonwealth Bank of Australia (CBA) is a multinational bank with operations primarily in Australia and New Zealand, and a presence in Asia, North America, and Europe. Initially established to conduct both savings and general banking business, it was fully privatized in 1996. The bank's mission is to improve the financial wellbeing of its customers and communities by providing a wide range of financial products and services to individuals, small businesses, and large corporate and institutional clients.