The Board of Directors of Commonwealth Bank Ltd announced that, at its February 2016 meeting, it approved a final extraordinary dividend of six cents per share based on 2015 results of $58 million in net income.

The extraordinary dividend, payable on March 14, 2016 to more than 6,000 shareholders of record as of March 7, brings dividend payments to $0.36 per share for the year and continues a trend of quarterly dividends plus extraordinary dividends that helps build sustaining value for the bank’s share price.

Commonwealth Bank recently signed a contract for a new corporate training centre at a cost of $800,000. In doing so, the Bank cited its emphasis on customer service and training as “the number one reason we are the leading bank in The Bahamas.”

The signing took place at the bank’s CB Plaza headquarters on Mackey Street where the training centre is currently located. As the bank has grown, CB Plaza has become increasingly crowded, making the move to property adjacent to its Prince Charles Branch a more suitable location, according to Director Earla J. Bethel, who heads the Premises Committee of the Board of Directors.

Commonwealth Bank today released a very positive earnings report declaring $44 million in profits for the nine months to September 30 2015 with Total Assets exceeding $1.5 billion.

“This positive third quarter earnings report reflects an increase of 12.2% or $4.8 million above the $39.2 million in profits for the same period last year,” said President Ian Jennings. “But more importantly, these results demonstrate that our steadfast conservative approach to lending combined with vigilant oversight of operating expenses continues to serve our more than 6,000 shareholders well, in addition to the community as a whole.”

Commonwealth Bank is proud to announce a $50,000 donation to the Bahamas Red Cross to assist with relief efforts in those Family Islands impacted by Hurricane Joaquin.

“Like all Bahamians we were deeply moved by the devastation suffered by our brothers and sisters in the southern islands,” said Commonwealth Bank President Ian Jennings. “Commonwealth Bank has a long history of partnering with the Red Cross in bringing relief to hurricane victims. Our focus and efforts now have to be on helping those persons rebuild their lives.”

For the sixth consecutive year, Cabinet ministers, education officials and Commonwealth Bank joined forces September 12 to present a parenting forum ushering in the new school year but this year the message was stronger than ever – if you want your children to succeed in school, you must get involved. Success, they said, was a family matter.

In an impassioned presentation flanked by cancer survivors including members of its own staff, Commonwealth Bank announced today that it would make the greatest contribution to the fight against cancer in its history – a 10-year, $500,000 pledge to the Cancer Caring Centre.

The announcement was made by bank President Ian Jennings during a press conference at Commonwealth Bank’s headquarters, Mackey Street.

Six years after introducing Saturday banking at one of its branches, Commonwealth Bank opened its
sixth branch to six-day banking and the crowd that turned out to celebrate reaffirmed the extra day at the
new Cable Beach location was exactly what they wanted. Customers lined up before doors opened at 10 am
and continued to overflow the parking area during the mini Auto Extravaganza after the bank closed at 1 pm.

The CB Pirates, a l-O-member cycling team, pedaled a combined total of 250 miles raising $3,000 during the ninth annual Ride for Hope (R4H) biking event held in New Providence. The ride is held annually to raise funds to aid the fight against cancer.

The Commonwealth Bank team, a green sponsor of the ride, headed to the starting line with the plan of biking 20 miles each as they were originally signed up for, but once at the location and with the excitement swirling, the Pirates added an additional five miles to their overall goal.

Thousands of persons who might have gone hungry or been forgotten over the holidays enjoyed hot meals and home-wrapped gifts, thanks to the generosity of Commonwealth Bank’s management and staff who joined hearts and hands to bring more for those who have least.

“The idea began two years ago when staff members came to us and said they wanted to raise funds to bring joy to the less fortunate over the holidays and they would be willing to reach into their own pockets to do so,” said Ian Jennings, President. “We were so moved by their caring spirit thatwe responded without hesitation: ‘Whatever you raise, we’ll match,’ and it’s grown from there.”

Commonwealth Bank’s 6000-plus shareholders will have a little more money to spend during the holidays this year when the Bank issues a pre-Christmas extraordinary dividend of $.06 per share.