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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Banks view of borrowers' living costs might not be realistic, warns Australian Prudential Regulation Authority ... - Herald Sun

... SunBanks view of borrowers' living costs might not b...

 

Potential house price drop poses some risk for Australian banks, according to Moody's - Domain News

... to Moody'sDomain NewsA slump in house prices coupled with an increase in household debt could spell trouble for Australian banks, according to a leading credit rating agency. Banks in Australia, as well as those in Canada and Sweden, face increased risk of a house price ...Banks might be safe when house prices correct but not the economy: Moody'sThe...

 

Cabinet has considered allowing banking inquiry – Scott Morrison - The Guardian

... GuardianScott Morrison has confirmed that cabinet has discussed the possibility of allowing a parliamentary inquiry into Australia's banks as disgruntled Nationals MPs threaten to cross the floor to support the idea. But Malcolm Turnbull has refused to say if ......

 

Malcolm Turnbull rules out banking royal commission despite backbench pressure - The Sydney Morning Herald

... rules out banking royal commission despite backbench pressureThe Sydney Morning HeraldPrime Minister Malcolm Turnbull has pushed back against renewed moves for a powerful inquiry into Australia's banks, reit...

 

Rebel Australian lawmakers say to force wide-ranging banking probe - Reuters

... say to force wide-ranging banking probeReutersSYDNEY (Reuters) - Rebel government lawmakers in Australia vowed on Monday to force a powerful inquiry into the country's scandal-hit banking sector, further tur...

 

Facebook's Messenger payments looms over Australia's big banks - The Australian Financial Review

... Messenger payments looms over Australia's big banksThe Australian Financial ReviewFacebook's challenge to Australia's big banks is coming as early as next year, when the social media giant is ex...

 

 

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