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Commbank aims more support for First Nations businesses

September 2, 2025

Commonwealth Bank has launched its latest Reconciliation Action Plan aimed at growing and supporting First Nations Businesses.

Over the next 18 months two First Nations-led organisations, Mudgin-gal Aboriginal Corporation (NSW) and Mookai Rosie-Bi-Bayan (QLD) will each receive access to grants of up to $200,000 plus tailored non-financial assistance, including, executive mentoring, and capability-building support from across CommBank.

Supporting solutions designed by the community, for the community

Now in its third year, CommBank’s Next Chapter Innovation program is part of the bank’s broader commitment to help address domestic and family violence (DFV) and financial abuse, to support victim-survivors on their path to long-term financial independence.

Starting with traineeships, the organisation has grown its strategic plan to support customers, including becoming founding members of Supply Nation.

The plan has some ambitious targets that include spending $100m with First Nations businesses over the next three years and recruiting 150 First Nations employees.

The 23-25 plan achieved a number of targets:

Over 190 employment offers accepted by external First Nations people for roles across the bank in FY24
First Nations representation across our domestic workforce increased to 1.7%, as at 30
September 2024.
First Nations Reach Program provided faceto face banking services to 1,426 customers in remote locations in 2024.
Spent $22.65m with First Nations businesses in FY24, an increase of almost 150 per cent on the FY23 spend, compared to the goal of a 10 per cent year on year increase.
40.4 per cent of Australian- based employees completed one or more forms of Indigenous cultural development training in FY24, exceeding the bank’s goal of 25 per cent for the year.

The new plan has four pillars, Reconciliation and Community, Educations and careers, Business success and Growth and Financial inclusion aiming to engage First Nations communities.

“Our reconciliation ambition is to be a trusted partner to First Nations peoples as they achieve their social, cultural and economic aspirations,” the report states.

The support includes:

Understanding the unique nature of financial abuse impacting First Nations communities, as part of our Next Chapter program.
Working to understand and remove barriers to accessing appropriate financial products and services.
Supporting First Nations communities interested in pursuing opportunities with the carbon market.
“Since the launch of our first RAP in 2008, we have improved our understanding of the role we play in reconciliation, and we recognise that initiatives are more effective and impactful when

First Nations peoples are leading solutions, and where First Nations peoples are involved in the design and delivery of initiatives,” the plan stated.

Chief executive Matt Comyn said while there bank was proud of the achievements, “our FY26-28 RAP seeks to apply a set of engagement principles to the way we deliver our 12 reconciliation priorities so we can continue to strengthen our engagement with First Nations peoples.

“These principles have been developed with our Indigenous Leadership Team (ILT) and our Indigenous Advisory Council (IAC) to support better engagement with First Nations Stakeholders while our teams deliver our Reconciliation Programs, as set out in our FY26-28 RAP.

‘We look forward to working with Reconciliation Australia as we progress our purpose of building a brighter future for all.”

Reconciliation Australia CEO Karen Mundine said Commonwealth Bank had a proven track record of embedding effective initiatives and consistently shows their ability to take on leadership to advance national reconciliation.

“Commonwealth Bank has developed Indigenous Engagement Principles (IEPs) to apply to the delivery of their reconciliation priorities,” she said.

“The IEPs – self-determination, participation in decision-making, respect and recognition of culture and equality and nondiscrimination – aim to further strengthen Commonwealth Bank’s engagement with First Nations peoples as it builds on its reconciliation commitments.

“This strategy shows their deep understanding that initiatives are far more effective when First Nations people are involved in the design and delivery and lead the solutions. Additionally, Commonwealth Bank continues to focus efforts on expanding access to financial services for First Nations people and communities.”

Key Initiatives

Elevate Reconciliation Action Plan (RAP):

CommBank’s FY26-28 RAP includes a cumulative target of $100 million spent with First Nations businesses and a commitment to recruit 150 First Nations people annually through targeted employment pathways.

Indigenous Business Banking:

The bank offers a range of services including transactional banking, lending, equipment finance, and sustainable finance, supported by culturally trained bankers and a dedicated concierge hotline.

Supply Nation Partnership:

CommBank collaborates with Supply Nation to provide business banking, education, and training solutions to help Indigenous businesses grow.

CommBank Next Chapter:

This program supports innovative, community-led initiatives addressing financial abuse in First Nations communities, providing grants and non-financial support to selected First Nations-led organisations.

Indigenous Business Education Series:

This series, in partnership with Supply Nation, offers workshops focused on building the financial literacy and capacity of Indigenous businesses.

Cultural Capability & Support:

CommBank focuses on expanding Indigenous customer support, providing cultural capability training to its staff, and developing culturally informed banking services.

How to Get Support

Indigenous Business Line and Concierge: For business-specific support, call 1300 096 394.
Indigenous Customer Assistance Line (ICAL): For remote customers, call 1800 700 682 and select option 1 for the ICAL Team.
CommBank Indigenous Banking: Visit their website for more information on services, support, and contacts for Indigenous business customers.

The full report can be found here: https://www.commbank.com.au/content/dam/commbank-assets/support/docs/CommBank-RAP-FY26-28.pdf

Peter Rowe

Peter Rowe leads First Nations News as Editor, with over three decades of experience across international newsrooms, digital platforms and media strategy roles. For the past 20 years, he’s worked in Australia – reporting, editing and advising on stories that shape public debate.