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Banks in Australia

Banks in Australia

Banks in Australia: The Australian banking system plays a major role in the country’s financial system. Apart from traditional banking services, banks also provide business banking, trading in financial markets, stock broking, insurance and funds management.

According to Moody’s, Australia’s banking system is stable while the country has strong home prices, rising household debt and moderate wage growth.

There are 53 Australian banks, of which 14 are owned by the government.

Commonwealth Bank of Australia

The Commonwealth Bank of Australia, Commonly referred to as the Commonwealth Bank is an Australian multinational bank with businesses across New Zealand, Fiji, Asia, the United States and the United Kingdom. The bank provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services.

The Commonwealth Bank is the largest Australian listed company on the Australian Securities Exchange as of August 2015 with brands including Bankwest, Colonial First State Investments Limited, ASB Bank (New Zealand), Commonwealth Securities Limited (CommSec) and Commonwealth Insurance Limited (CommInsure). Commonwealth Bank is also the largest bank in the Southern Hemisphere.

For more information please visit: commbank.com.au

Top Banks in Australia

1. Commonwealth Bank

Category: Banks in Australia

The Commonwealth Bank of Australia, Commonly referred to as the Commonwealth Bank is an Australian multinational bank with businesses across New Zealand, Fiji, Asia, the United States and the United Kingdom. The bank provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services.

For more information please visit: commbank.com.au

2. Australia and New Zealand Banking Group (ANZ)

Category: Banks in Australia

The Australia and New Zealand Banking Group Limited, commonly called ANZ, is the third largest bank by market capitalisation in Australia, after the Commonwealth Bank and Westpac Banking Corporation. Australian operations make up the largest part of ANZ’s business, with commercial and retail banking dominating. ANZ is also the largest bank in New Zealand, where the legal entity became known as ANZ National Bank Limited in 2003 and changed to ANZ Bank New Zealand Limited in 2012. From 2003 to 2012, it operated two brands in New Zealand, ANZ and the National Bank of New Zealand. The National Bank brand was retired in 2012, with a number of branches closing and others converting to ANZ branches.

For more information please visit: anz.com.au/personal

3. National Australia Bank

Category: Banks in Australia

National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation, earnings and customers. NAB was ranked 21st largest bank in the world measured by market capitalisation and 41st largest bank in the world as measured by total assets in 2014, falling to 49th largest in March 2016. As of November 2014 NAB operated 1,590 branches and service centres; and 4,412ATMs across Australia, New Zealand and Asia serving 12.7 million customers.

For more information please visit: nab.com.au

4. Westpac Banking Corporation

Category: Banks in Australia

Westpac Banking Corporation, more commonly known as Westpac, is an Australian bank and financial-services provider headquartered in Westpac Place, Sydney. It is one of Australia’s “big four” banks. Its name is a portmanteau of “Western-Pacific”.

For more information please visit: westpac.com.au

5. Bank of Queensland

Category: Banks in Australia

The Bank of Queensland is an Australian retail bank with headquarters in Brisbane, Queensland. The bank is one of the oldest financial institutions in Queensland and now has branches throughout Australia with a network of 252 branches, including 78 corporate branches and 166 “owner managed” branches.

For more information please visit: boq.com.au

6. Macquarie Bank

Category: Banks in Australia

Macquarie Group Limited is a global investment banking and diversified financial services group, providing banking, financial advisory and investment and funds management services to institutional, corporate and retail clients and counterparties around the world. Headquartered in Sydney, Macquarie is the largest Australian investment bank and the top ranked mergers and acquisitions advisor in Australia. Macquarie employs more than 14,000 staff in more than 70 office locations across 28 countries and has more than $A450 billion in assets under management.

For more information please visit: macquarie.com/uk/corporate

7. Bendigo Bank

Category: Banks in Australia

The origins of Bendigo Bank began more than 150 years ago in two great Australian communities, Bendigo in Victoria and Adelaide in South Australia. Bendigo Bank and Adelaide Bank each started out as building societies, driven to help Australians buy their own home.

For more information please visit: bendigobank.com.au/public

8. AMP Bank Ltd

Category: Banks in Australia

AMP Bank is the specialist residential banking arm of AMP Limited. AMP is the leading independent wealth management company in Australia and New Zealand. AMP help people and organisations build financial security since 1849. The company offers deposits, residential housing loans, self-managed superannuation fund products and practice finance loans, as well as provides transaction banking services.

For more information please visit: amp.com.au

9. Suncorp Bank

Category: Banks in Australia

Suncorp Bank is an Australian finance, insurance, and banking corporation based in Brisbane, Queensland, Australia. It is one of Australia’s largest banks (by combined lending and deposits) and its largest general insurance group, formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC).

For more information please visit: suncorpgroup.com.au

10. Bankwest

Category: Banks in Australia

Bankwest, previously known as The Bank of Western Australia, is an Australian full-service bank based in Perth, Western Australia. Formerly a wholly owned subsidiary of HBOS plc, it was sold in October 2008 to the Commonwealth Bank of Australia for A$2.1 billion and operates as a division of its parent company.

For more information please visit: bankwest.com.au

List of Banks in Australia

The following is the list of banks in Australia, as well as credit unions, friendly societies and subsidiaries and branches of foreign banks in Australia. Financial institutions in Australia are supervised by the Australian Prudential Regulation Authority (APRA) as authorised deposit-taking institutions (ADI) under the Banking Act 1959 (Cth), as at 2 August 2017.

1. Central bank

  • Reserve Bank of Australia

2. Australian-owned banks

  1. AMP Bank Limited
  2. Australia and New Zealand Banking Group Limited (ANZ)
  3. Australian Military Bank formerly Australian Defence Credit Union
  4. Australian Settlements Limited (ASL)
  5. Auswide Bank formerly Wide Bay Building Society
  6. Bank of MelbourneCorporation (Australia) Limited
  7. Bank of Queensland Limited
  8. Bank SA
  9. Bank of Western Australia Limited trading as BankWest
  10. BankVic Melbourne
  11. Beyond Bank Australia
  12. Defence Bank
  13. Delphi Bank previously Bank of Cyprus Australia Limited Melbourne
  14. Greater Bank
  15. Heritage Bank
  16. Hume Bank
  17. IMB Bank
  18. Bank Australia (previously bankmecu)
  19. Bendigo and Adelaide Bank Limited
  20. Commonwealth Bank of Australia
  21. G&C Mutual Bank
  22. Rural Bank Limited
  23. Macquarie Bank Limited
  24. Members Equity Bank Limited trading as “ME Bank”
  25. MyState Bank
  26. National Australia Bank Limited
  27. P&N Bank
  28. Police Bank
  29. Qudos Bank
  30. RACQ Bank
  31. St. George Bank Limited
  32. Suncorp Bank
  33. Tyro Payments
  34. Victoria Teachers Mutual Bank
  35. UBank
  36. Westpac Banking Corporation
  37. Teachers Mutual Bank Limited

3. Credit Unions

  1. Australian Central Credit Union Ltd (t/a People’s Choice Credit Union)
  2. Australian Military Bank Ltd
  3. B & E Limited
  4. Bananacoast Community Credit Union Ltd
  5. Bankstown City Credit Union Ltd
  6. Big Sky Building Society Ltd
  7. Broken Hill Community Credit Union Ltd
  8. Cairns Penny Savings & Loans Ltd
  9. CAPE Credit Union Ltd
  10. Central Murray Credit Union Ltd
  11. Central West Credit Union Ltd
  12. Coastline Credit Union Ltd
  13. Community Alliance Credit Union Ltd (t/a Illawarra Credit Union, Western City Credit Union, Catalyst)
  14. Community CPS Australia Ltd (t/a Beyond Bank Australia)
  15. Community First Credit Union Ltd
  16. Community Mutual Limited
  17. Country First Credit Union Ltd
  18. Credit Union Australia Ltd
  19. Credit Union SA Ltd
  20. Dnister Ukrainian Credit Co-operative Ltd
  21. ECU Limited
  22. EECU Limited
  23. ENCOMPASS Credit Union Ltd
  24. Family First Credit Union Ltd
  25. Fire Brigades Employees’ Credit Union Ltd
  26. Fire Service Credit Union Ltd
  27. Firefighters & Affiliates Credit Co-Operative Ltd
  28. First Choice Credit Union Ltd
  29. First Option Credit Union Ltd
  30. Ford Co-Operative Credit Society Ltd
  31. Gateway Credit Union Ltd
  32. Goulburn Murray Credit Union Co-Operative Ltd
  33. Greater Building Society Ltd
  34. Heritage Bank Ltd
  35. Heritage Isle Credit Union Ltd
  36. Holiday Coast Credit Union Ltd
  37. Horizon Credit Union Ltd
  38. Hume Bank Ltd
  39. Hunter United Employees’ Credit Union Ltd t/a Hunter United
  40. IMB Limited
  41. Intech Credit Union Ltd
  42. Laboratories Credit Union Ltd
  43. Latvian Australian Credit Co-Operative Society Ltd
  44. Lysaght Credit Union Ltd
  45. Macarthur Credit Union Ltd (t/a The Mac)
  46. Macquarie Credit Union Ltd
  47. Maitland Mutual Building Society Ltd (t/a The Mutual)
  48. MCU Ltd
  49. Maritime, Mining & Power Credit Union Ltd
  50. mecu Limited (t/a Bank Australia)
  51. My Credit Union Ltd
  52. Northern Inland Credit Union Ltd
  53. Nova Credit Union Ltd
  54. Orange Credit Union Ltd
  55. Police Financial Services Limited (t/a BankVic)
  56. Police Bank Ltd
  57. Police & Nurses Ltd
  58. Police Credit Union Ltd
  59. Pulse Credit Union Ltd
  60. QPCU Ltd T/A QBANK
  61. Quay Credit Union Ltd
  62. Queensland Country Credit Union Ltd
  63. Queensland Professional Credit Union Ltd (t/a Your Credit Union)
  64. Queenslanders Credit Union Ltd
  65. Railways Credit Union Ltd (t/a myMOVE)
  66. Select Credit Union Ltd
  67. SGE Mutual Ltd (t/a G&C Mutual Bank)
  68. South West Slopes Credit Union Ltd
  69. Southern Cross Credit Union Ltd
  70. South-West Credit Union Co-Operative Ltd
  71. Summerland Credit Union Ltd
  72. Sutherland Credit Union Ltd
  73. Sydney Credit Union Ltd
  74. Teachers Mutual Bank Limited
  75. The Capricornian Ltd
  76. Traditional Credit Union Ltd
  77. Transcomm Credit Co-Operative Ltd
  78. Transport Mutual Credit Union Ltd
  79. Victoria Teachers Ltd
  80. Warwick Credit Union Ltd
  81. WAW Credit Union Co-Operative Ltd
  82. Woolworths Employees Credit Union Ltd
  83. Wyong Council Credit Union Ltd

4. Australian Friendly Societies

  1. Friendly Society
  2. Austock Life Ltd
  3. Australian Friendly Society Ltd
  4. Australian Scholarships Group Friendly Society Ltd
  5. Australia Unity Ltd (parent of Lifeplan Australia Friendly Society Ltd)
  6. Centuria Life Limited
  7. Foresters Friendly Society Ltd
  8. Friendly Society Medical Association Ltd (t/a National Pharmacies)
  9. KeyInvest Ltd
  10. NobleOak Life Ltd
  11. Maryvale Friendly Society Ltd
  12. Queensland Irish Association Friendly Society Ltd
  13. Sureplan Friendly Society Ltd
  14. Transport Friendly Society Ltd
  15. Victorian Friendly Societies Pharmacies Association


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