Commonwealth Bank takes to heart an urgent appeal to save a child’s life

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Commonwealth Bank recently presented a special $10,000 donation to The Sir Victor Sassoon (Bahamas) Heart Foundation. The notable charity, founded by the late Lady Sassoon, provides life saving operations to children with critical heart conditions. The Bank, a supporter of the Foundation, responded to an urgent appeal made by its Chairman, R.E. Barnes who explained that for first time ever the organization was facing an extraordinary challenge which has affected its budget drastically.

Commonwealth Bank’s support of education tops $1.5 million

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For the fifth consecutive year, Commonwealth Bank – the Education Bank – has once again committed to improving the community through education by providing thousands of students in New Providence and the Family Islands with access to essential school supplies providing its signature CB backpack filled with composition books, pens, pencils and rulers. The Bank’s ongoing education program, which today tops $1.5 million in school supplies, technological teaching tools and scholarships, is an investment in the future of the country and a clear demonstration of the Bank’s corporate responsibility to lend its resources and expertise to effect positive change in the country.

Commonwealth Bank’s half year results up 11%

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Commonwealth Bank recently reported their earnings for the first half of 2011. Executive Chairman, William B. Sands, Jr., announced that the Bank’s Comprehensive Net Income for the 6-month period ended June 30, 2011 increased by 11.4% to $28.8 million, exceeding the same period in 2010. Total assets at June 30, 2011 were $1.45 billion, a 3% growth over June 30, 2010’s total assets of $1.41 billion.

Commonwealth Bank breaks ground on Cable Beach Branch relocation site

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Commonwealth Bank recently celebrated the official groundbreaking of the new location of their Cable Beach Branch in the Baha Mar Commercial Village, approximately one mile west of the Bank’s current location on the Cable Beach strip on West Bay Street.

The new building is being constructed by Baha Mar as part of the agreement with the Bank to make the current site of the Cable Beach branch part of the mega development on Cable Beach.

Commonwealth Bank increases quarterly dividend

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Commonwealth Bank concluded its 50th anniversary year of celebration on a financial high note. The Bank has announced that its Board of Directors recently approved an increase in the common share quarterly dividend from $0.05 to $0.06 per share, effective March 2011.This increase reflects the first increase in the quarterly dividend since the global economic crisis occurred in 2008.

The dividend payment will be payable on March 31st, to shareholders of record as of March 21st .