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.
... 500 Miles To Get Cash: Report The Daily Hodl...
Forbes 2024 World's Best Banks List - Forbes
...Forbes 2024 World's Best Banks List Forbes...
... tellers refuse cash withdrawal after man fumes over $3,000 rejection Yahoo Finance Australia...
Australia's top bank CBA lures funds exiting China despite profit outlook - Reuters
... top bank CBA lures funds exiting China despite profit out...
... customer from losing millions to scam by asking one simple question GOOD...
Australia's biggest banks likely to post growth as margins stay favorable - S&P Global
... favorable S&P Global...
Australian Coal Miners Woo Private Capital as Banks Get Leery - Bloomberg
... as Banks Get Leery Bloomberg...
Add a New Bank in Australia
