Banks in Australia

Banks and Saving banks in Australia



Australia has international reputation and it is considered to be amongst the top 5 banking systems in the world. There are four major banks dominating the sector: Australia & New Zealand Banking Group, National Australia Bank, Commonwealth Bank of Australia and Wespac Banking Corporation, and there are also many regional banks as well as European, USA and Asian investment banks. Banking is regulated by the APRA (Australian Prudential Regulation Authority) which is reponsible of the correct regulation of banks and all kind of insurers and societies, because in Australia you can also find non-bank financial intitutions and those need to be regulated.

 

Those mentioned four banks cannot merge between them because of a policy adopted by the governement and critizised by others on the basis that the rule goes against Australia's best interests; but the fact is that those four banks are now amongst the top 15 banks in the world.

 

People can choose between the “big four” or smaller, regional banks such as Bankwest, Bank of Queensland or Adelaide Bank.

 

Foreign banks must have a special authorisation to operate in Australia, and there are many subsidiary banks operating -HSBC Bank Australia, for example-, but most of them have presence in the merchant banking sector.

Showing 3 Banks in Australia


Deutsche Capital Holdings Bank

Banorte

Adexec

News related with Australia Banks


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National Australia Bank to Compensate Customers Hit by Outage - Bloomberg

... OutageBloombergThe outage comes at an awkward time, with Australian banks under pressure from a probe that's exposed a decade of unethical practices by the lenders, including lying to regulators, falsifying documents and taking bribes to extracting fees from dead ...Custo...

 

Foreign banks flex muscles in Australia as locals reel from scandals - Reuters

... flex muscles in Australia as locals reel from scandalsReutersHONG KONG/SYDNEY (Reuters) - Foreign banks are circling Australia once more...

 

Foreign banks flexing muscles in Australia again - Pakistan Observer

... Australia againPakistan Observer“We are seeing a lot of European banks who have expertise in new areas such as renewable energy join the market here, whereas initially some of the Australian banks were slow or...

 

Australia's Westpac cleared of rate rigging but bank inquiry sword stays - Reuters

... Westpac cleared of rate rigging but bank inquiry sword st...

 

Australia's shadow banking Ponzi scheme - The Australian

... AustralianAustralia's shadow banking Ponzi schemeThe Au...

 

Buyers – and sellers – beware as royal commission exposes banking's risky business - The Guardian

... risky businessThe GuardianANZ Bank. On Wednesday, a senior ANZ executive was grilled about ANZ's decision to loan $220,000 to a couple in 2014 to set up the first Australian outlet of a New Zealand gelato chain, largely based on a business plan filled with pages of “clip-art ......

 

 

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