Commonwealth Bank is Australia's second-oldest and largest bank with operations spanning Australia, New Zealand, and Asia. Its core business is the provision of retail, business, and institutional banking services. It is also a major fund manager and the second-largest life insurer in Australia. CBA operates the largest financial services distribution network in the country. The strategy, which has been stable and successful, emphasises a well-managed, diversified business model, strong balance sheet, stable financial platform, and conservative underwriting.