Australia has a firm banking structure with the banks equally distributed among regional and state banks. Top ten banks of Australia are discussed below. These are prioritized on the basis of assets.
Here are the top ten banks in Australia.
National Australia Bank
As the name indicates it is the Australian’s national bank, with the total assets of nearly about $773 billion, these numbers placed it first on the list of the top ten banks in Australia. The bank was established on 4th October 1858 and its headquarters in Docklands Australia. The bank has around 1800 branches with the number of employees ranging to 42,853.National Australia Bankis included one of the top ten banks in Australia.
The bank was established in 1911, with the number of employees just under 45,000. The bank provides a wide range of services like retail, investment opportunities, broking and funds management. It also provides with several loans on easy payback terms. The bank has total Assets of about $696 billion.
ANZ bank (Australia, New Zealand Bank)
With the employee strength of nearly 50,000, this bank provides with multiple banking facilities, these services include consumer banking, finance, and multiple insurance policies. Besides this, it also has clients in retail, corporate and institutional services. The bank is worth of $676 billion.
This bank has a perk of being the first and oldest bank of the state. The bank was founded in 1817 and currently has total assets of about $675 billion. The bank provides multiple banking facilities and runs through two of its main banks. These branches are in Australia and New Zealand each.
The bank was founded in 1970 and now its headquarters is in Sydney. The company has an employee strength of 13,663 and provides its consumer various facilities like credit card services, loans, insurance policies and many other financial offers. The company has total assets of $142 billion.
AMP bank limited
The bank has an employee strength of about 5,700 people and a net worth of about $110 billion. The distinct services provided by this bank are its retirement saving superannuation. Besides, this service like capital investment and many insurance policies are also provided.
Suncorp Group Limited
This organization was founded in 1996 and its headquarters are situated in Brisbane, Australia. It is Australia’s largest insurance group. The bank has total assets of $77 billion. The company runs five major departments like commercial insurance, Vero New Zealand. Personal Insurance, Suncorp bank and Suncorp Limited.
During the recession of 2008-2009, the bank was acquired by the Commonwealth bank. The bank still operates as an independent organization. It is ranked eighth in Australia based upon an amount of assets, it has total assets of $75 billion.
Bendigo and Adelaide Bank
The bank has more than 90,000 shareholders and was originally founded in 1858. Later, in 2007, the bank was named as Bendigo and Adelaide Bank. The company has the distinct banking option named as Rural banking that provides certain subsidies. This bank is also included one of the top ten banks in Australia
Bank of Queensland
The bank’s headquarters is situated in Brisbane, Australia. The bank has 270 branches and number of employees about 1800. The total worth of Assets for this bank is $37 billion.