list of banks and credit union in Australia

Last Updated on July 1, 2024 by admin

Do you want to know the top 10 banks in Australia? this article will explain it based on their assets and customer base so when you want to choose a Financial institution for your banking needs this article will guide you.

The rating will be base on Market Capitalisation, size of home lending to owner,by Assets and by Household Deposits. The Commonwealth Bank of Australia (CBA) top the list as the highest bank to Australian and international clients with $1.154 trillion

The Reserve Bank of Australia (RBA) regulates and controls the banking system in the oceanic continent. They provide certain banking services as required to the Australian Government and its agencies, and to a number of overseas central banks and official institutions.

The Reserve Bank of Australia (RBA) is Australia’s central bank and derives its functions and powers from the Reserve Bank Act 1959.it operates as a multinational bank in New Zealand,Australia Fiji Islands, Asia, the US, and the UK.

There are Currently 53 banks in Australia, but 14 of which are owned by the government.However, there are four major banks that dominate the Australian banking sector- Commonwealth Bank of Australia, Westpac Banking Corporation, Australia and New Zealand Banking Group (ANZ), and National Australia Bank (NAB.

Also read: How to register Macquarie Online banking and mobile app

Top 10 bank in Australia

1.Commonwealth Bank
2.ANZ Banking Group
3.Westpac
4.National Australian Bank (NAB)
5.Macquarie Group
6.Bendigo and Adelaide Bank
7.Suncorp Bank
8.Bank of Queensland
9.ING Bank (Australia) Limited
10.HSBC Bank Australia

1. Commonwealth Bank

The Commonwealth Bank is the largest and biggest bank in Australia by assets, deposits, market capitalization and number of branches and ATMs. … It shares are traded on the Australian Securities Exchange with a market capitalization of $170.52 billion AUD. The Commonwealth Bank of Australia, or CommBank, is an Australian multinational bank with businesses across New Zealand, Asia, the United States and the United Kingdom. Commbank was Founded: 22 December 1911, Melbourne, Australia

2. Westpac

The Westpac Banking Corporation is Australian multinational banking and financial services company headquartered in Melbourne.It is Australia’s second-largest bank by assets and fourth-largest bank by market capitalization of 77.23 billion AUD. It operates both in Australia and New Zealand. It was Established in 1817, with headquarters in Sydney

3. National Australian Bank (NAB)

The National Australian Bank is also known as NAB headquartered in Melbourne, Australia. The merger between the National Bank of Australasia and the Commercial Banking Company of Sydney formed this bank. NAB is the third largest bank in Australia with Market capitalization is 99.85 billion AUD Founded: 1 October 1981.

4. ANZ Banking Group

The Australia and New Zealand Banking ANZ WAS Founded: 1835, London, United Kingdom ,it Headquarters is located at Melbourne, Australia with Market capitalization of 77.23 billion AUD

5. Macquarie bank

The Macquarie bank was Founded: 1969, Sydney, Australia with Market capitalization of 63.54 billion AUD

6. Bank of Queensland

The Bank of Queensland is an Australian retail bank with headquarters in Brisbane, Queensland and it was founded in 1863 with Market capitalization of 4.98 billion AUD

7. Bendigo Bank

The Bendigo Bank is known as Bendigo and Adelaide Bank Ltd. it was Founded: 1858. It is one of the largest retail banks in Australia.

8. AMP Bank Ltd

This Financial services company in Australia and New Zealand with Market capitalization of 3.73 billion AUD.it was established as a leader in the home loans banking sector.It was established 1 January 1849

9.Suncorp Bank

The Suncorp Bank provides general insurance, banking, life insurance, and wealth management services in Australia and NZ.it Market cap is $8.44 Billion This makes Suncorp the world’s 1520th most valuable company by market cap

10. HSBC Bank Australia

The HSBC Bank Australia is owned by HSBC . It is the 10th largest bank in Australia. It offers a range of banking and financial services that include retail, private, trade, financial, and treasury banking.

Also read: ANZ Bank: How to register for Mobile app, internet banking and transfer

Four Biggest bank In Australia

The four biggest bak in Australia are:

1.Commonwealth Bank of Australia (CBA),
2.Westpac Banking Corporation (WBC),
3.National Australia Bank (NAB),
4.Australian & New Zealand Banking Group (ANZ).

Australia-wide or multiple states

1.AMP Bank
2.ANZ
3.Commonwealth Bank
4.IMB Bank
5. ME Bank
6.NAB
7.St George Bank
8.Suncorp Group
9.Westpac
10.Beyond Bank Australia (NSW, WA, SA, ACT)
11.Defence Bank (for the Australian defence force and wider community)
12.Delphi Bank (NSW, VIC, SA)
13.Hume Bank
14.G&C Mutual Bank (NSW, VIC)
15.Rural Bank (mainly SA and VIC but also nationally through Bendigo Bank and Adelaide Bank)
16.Teachers Mutual Bank

Read: How to register for Commonwealth Bank Mobile app and online banking NetBank

Foreign-owned subsidiaries

1.Arab Bank Australia
2.Bank of China Australia
3.Citigroup
4.Deutsche Bank Australia
5.HSBC
6.ING Direct (subsidiary of Dutch bank)
7.Investec Bank
8.Rabobank

International money transfer companies

1.HIFX
2.MoneyCorp

New south wales

1.Bank of Sydney
2.Police Bank (police members and their families)

Victoria

1.Bank Australia
2.Bank of Melbourne
3.Bendigo Bank
4.Macquarie Bank
5.BankVic (police, health, emergency and public services)
6.Victoria Teachers Mutual Bank (teachers)

Queensland

1.Auswide Bank
2.Bank of Queensland
3.Heritage Bank
4.QT Mutual Bank (teachers)

Western australia

1.Bankwest
2.P&N Bank

South Australia

1.Adelaide Bank
2.BankSA

Tasmania

1.MyState Bank

Australian capital territory

See the ‘Australia-wide or multiple states’ list for the banks that operate in the NT.
northern territory

See the ‘Australia-wide or multiple states’ list for the banks that operate in the NT.

List of Credit Unions in Australia

There are 36 Credit Unions and Building Societies businesses in Australia as of 2022. the list are

1. South West Credit Union – Your Local Bank
2.Credit Union SA
3.Macquarie Credit Union
4.People’s Choice Credit Union
5.Transport Mutual Credit Union
6.New England Credit Union Ltd.
7.Police Credit Union
8,Credit Union Australia
9,Laboratories Credit Union Limited
10.Community First Credit Union – Blacktown
11.Orange Credit Union
12.Great Southern Bank
13. People’s Choice
14.MOVE Bank
15.Illawarra Credit Union
16. Australian Credit Management Pty Ltd
17.Broken Hill Community Credit Union
18.Pulse Credit Union
19.First Choice Credit Union