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There are a number of foreign subsidiary banks; however, only a few have a retail banking presence — HSBC Bank Australia, Bank of Sydney and Citibank Australia have a small number of branches. Foreign banks have a more significant presence in the Australian merchant banking sector.
Banking in Australia is notable by the small number of large banks in the market. Much of this concentration is the result of bank acquisitions. English, Scottish and Australian Bank was acquired by the ANZ Bank in 1970. In 1982, Bank of New South Wales merged with the Commercial Bank of Australia to form Westpac. There were many other bank ...
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Judo Bank is an Australian neobank focused on small and medium-sized enterprise lending but also offers a range of personal term deposit products to consumers. As of January 2020 [update] , Judo Bank had lent $1B to Australian businesses and another $1B in digital retail term deposits.
Bendigo and Adelaide Bank (trading as Bendigo Bank), is an Australian financial institution, operating primarily in retail banking. The company was formed by the merger of Bendigo Bank and Adelaide Bank in November 2007.
Great Southern Bank, formerly Credit Union Australia, is one of Australia's largest customer-owned banks with corporate offices in Brisbane, Sydney, and Melbourne. [5] It provided banking services to more than 400,000 Australians in 2023.
In Australia, the "big four banks" refers to the four largest banks that have historically dominated Australia's banking industry in terms of market share, revenue, and total assets. [3] [4] The "big four banks" of Australia are: [5] ANZ Bank; Commonwealth Bank (fully privatised in 1996) [6] National Australia Bank; Westpac
Its former constituent parts were the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, and the Commonwealth Development Bank. Founded in 1911 by the Australian Government and fully privatised in 1996, the Commonwealth Bank is one of the big four Australian banks, with the National Australia Bank (NAB), ANZ and ...