Australian banking system is considered to be one of the most trustworthy and stable in Asia region. Many years of traditions and innovations have created a lot of successful banking companies. Among them, the so-called Big Four stands out against a background of the others. The Big four is a group consisting of ANZ, Westpac, NAB, and CommBank. About 80% of all loans belong to them.
There are several criteria for choosing the best bank. They all depend on the needs of people. Read this article and choose the best bank in Australia that will help you with your personal needs.
Top 10 best banks in Australia
Here is our list of the best banking companies in Australia. It is rated according to customer’s satisfaction, capitalization, main offers and better rates.
10. Bank of Queensland is considered to be one of the oldest banks in the state. With more than 650 000 customers and 300 branches, it was rated 88% of customers’ satisfaction.
9. Bendigo&Adelaide Bank is a result of merging. It holds many businesses and two of them (Community Telco Australia and Keech Australia) got into the list of the most innovative companies in the country.
8. Bankwest recently has been known as a branch of CommBank. However, now it runs independently and is famous for its educational foundation fund.
7. Suncorp Bank is one of the largest in Australia. It deals not only with banking but with finance and insurance as well.
6. AMP Bank LTD is a great company which acts not only in Australia. It has spread its influence in the whole Asia, the UK, and the US.
5. Macquarie Bank is the largest investment bank in the country. It has completed a bookbuild of $420 million.
4. Westpac, as we already know, is the part of Big Four. It is the largest bank in New Zealand and holds the second place in assets’ number. It has got about 13 million customers, 1200 branches, and around 3000 ATMs through the whole country.
3. ANZ (The Australia and New Zealand Banking Group) is the third bank in Australia according to market capitalization. It is concentrated on commercial and retail banking.
2. Commonwealth Bank is another world conglomerate, which works in Asia and Anglo-Saxon countries. Also, it is considered to have the smartest mobile application among all Australian banks.
1. NAB (National Australia Bank) is the largest in Australia and holds the 17-th place in the top of world’s largest banks according to market capitalization. It has got more than 8 million customers.
According to the recent statistics, more than 14 million Aussies go online to do their banking. The competition in digital market is very tough and the banks always try to improve their products, but which one has won the first prize?
The certain leader is CommBank with its 7.3 million users. Its mobile application also holds the top among banking apps. NAB has got the second place with about 5.4 million users. ANZ got the third place. Its account called Access Advantage and its credit cards are connected with Apple Pay.