At the epitome of the regulators comes the reserve bank of Australia, which regulates and controls the nation’s monetary policy and money supply. Banks are held in the country under the Banking Act.
In Australia, Banks can be broadly divided into four major categories:
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Given below is the list of the top 10 banks in Australia:
ANZ is probably the largest and oldest Bank in Australia and New Zealand. They founded this Top Bank in Australia on 2 March 1835, and its headquarters are in Melbourne, Australia. ANZ was named the most sustainable Bank globally in 2008. The Bank today has more than 9,000 employees globally and has the largest operation in the Asia Pacific.
Commonwealth Bank is an Australian multinational bank in New Zealand, Asia, the United States, and the United Kingdom. It provides a variety of financial instruments and facilities over different geographies. The Bank today has over 52,000 employees working across different time zones. It also has over 1,100+ branches worldwide and 4,300+ ATMs. The Bank also oversees investment Banking services, customer and corporate banking, Private Equity, Mortgages, and Insurance. The Bank has expanded its footprints into various products, making the Bank a good user base.
The National Bank of Australia and the Commercial Bank of Sydney merger formed the Bank. The Bank formed in 1982 and serves only in Asia. The company has over 36,000+ employees, and its headquarters are in Melbourne. The Bank offers a variety of products to its customers, ranging from Insurance and Banking, Customer Banking, Investment Banking, and Private Equity and Wealth Management services. The Bank’s total assets of around 806 Billion AUD as of 2018, and a net income of 13.5 Billion AUD in 2018. The rating agency Standard & Poors has rated the bank AA- long-term.
