List of Banks In Australia by size

Last Updated on 2023-10-12 by Admin

The biggest country in Oceania, Australia financial system is second to None when it come to banking service.They have well-flourished financial regulators which s done by reserve bank of Australia.The Apex bank help to regulates and controls the monetary policy and the money supply.

Australia’s banking sector is regulated by various government agencies and authorities to ensure the stability, security, and integrity of the financial system. The key regulatory authority overseeing banks and financial institutions in Australia is the Australian Prudential Regulation Authority (APRA). Here is an overview of the regulatory framework for banks in Australia:

Regulation and Supervision:

 

Regulators: The primary regulatory body overseeing banks in Australia is the Australian Prudential Regulation Authority (APRA). APRA ensures that banks maintain adequate capital reserves, manage risks effectively, and comply with regulatory standards.

Reserve Bank of Australia (RBA): RBA is Australia’s central bank. It sets monetary policy, issues currency, and works to maintain financial stability in the country.

Types of Banks:

 

Commercial Banks:

These are the traditional retail and business banks that offer services to individuals, businesses, and institutions.

Credit Unions and Building Societies:

These are member-owned financial institutions that offer banking services, similar to commercial banks.
Foreign Banks: Several international banks operate branches or subsidiaries in Australia.

Banking Services in Australia

 

Retail Banking:

Banks provide various services to individual customers, including savings accounts, checking accounts, personal loans, mortgages, and credit cards.

Business Banking:

Banks offer a range of financial products and services to businesses, including business loans, merchant services, and business accounts.

Investment Banking:

Larger banks often have divisions dedicated to investment banking, which includes services like mergers and acquisitions, underwriting, and advisory services

 

You can also read:List of Banks in Canada and Top 10 banks

Australia bank is divided into Nationally operating banks, State banks, Regionally operating banks and Foreign Banks .

Here is a list of some of the largest banks in Australia based on their total assets:

. Please note that the rankings and sizes of banks may change over time, so it’s essential to consult the most recent financial reports and sources for up-to-date information.

  1. Commonwealth Bank of Australia (CBA) – Commonwealth Bank is one of the largest banks in Australia and is often considered the biggest by various measures, including total assets and market capitalization.
  2. Westpac Banking Corporation – Westpac is one of Australia’s “big four” banks and ranks among the largest in terms of assets and market capitalization.
  3. Australia and New Zealand Banking Group (ANZ) – ANZ is another major player in the Australian banking industry and is known for its extensive presence in the Asia-Pacific region.
  4. National Australia Bank (NAB) – NAB is one of the “big four” banks and is also significant in terms of assets and market capitalization.
  5. Macquarie Group – Macquarie is a global financial services provider, and while it is not as large as the “big four” banks in terms of retail banking, it is substantial in terms of assets and market capitalization.
  6. Bendigo and Adelaide Bank – Bendigo and Adelaide Bank is a regional bank in Australia and is one of the larger banks outside the “big four.”
  7. Suncorp Group – Suncorp is a financial services company with operations in banking, insurance, and superannuation.
  8. Bank of Queensland – Bank of Queensland, often referred to as BOQ, is a regional bank with a notable presence in Queensland.
  9. Citibank – Citibank operates in Australia and offers a range of banking services, including retail and corporate banking.
  10. ING Bank (Australia) – ING is a subsidiary of the Dutch-based ING Group and provides retail and wholesale banking services in Australia.

Please keep in mind that the financial landscape can change, and the rankings of banks may vary over time. It’s advisable to consult the latest financial reports and sources for the most current information on the size and rankings of banks in Australia.

Other on the lists are:

Bank Australia
Bank of Melbourne
Bank of Sydney
Police Bank (police members and their families)
Beyond Bank Australia
Delphi Bank
Defence Bank
Hume Bank
G&C Mutual Bank
Teachers Mutual Bank
Rural Bank
Heritage Bank
Auswide Bank
P&N Bank
Adelaide Bank
BankSA
MyState Bank

Foreign-owned subsidiaries IN Australia are:

Arab Bank Australia
Bank of China Australia
Citigroup
Deutsche Bank Australia
HSBC
ING Direct (subsidiary of Dutch bank)
Investec Bank
Rabobank

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