List of the Best Banks in Australia and Credit Union Banks

List of the Best Banks in Australia and Credit Union Banks

Have you been making an effort to know the best banks and credit unions in Australia? Kisstech.com is giving you an update on the best banks in Australia and their assets and customer base, so if you want to choose a financial institution for your banking, you need this write-up to direct you on how to make the right choice of banks.

The banking system in Australia is reliable and transparent.

When talking about ratings, these banks are based on market capitalization, size, assets, and household deposits. (CBA) This means the Commonwealth Bank of Australia tops the list as the highest bank for Australian and international clients with $1.154 trillion.

You may also like to read: Simple Steps How to do Commbank Cardless Cash withdrawal

Australian Baking Regulation and control

Knowing about the regulation of banks in Australia, the Reserve Bank of Australia (RBA) is the boss because it regulates and controls the banking system on the oceanic continent. They provide certain banking services as required to the Australian Government and its agencies, as well as to a number of overseas central banks and official institutions.

The Reserve Bank of Australia (RBA) is Australia’s central bank, which derives its name from the Reserve Bank Act 1959. It operates as a multinational bank in New Zealand, Australia, the Fiji Islands, Asia, the US, and the UK.

Currently, there are 53 banks in Australia, but 14 are owned by the Australian government.

Four major banks that dominate the Australian banking sector

Commonwealth Bank of Australia, Westpac Banking Corporation, Australia and New Zealand Banking Group (ANZ), and National Australia Bank (NAB)

The under-listed are the best Australian Banks

Top Ten Best Australian Banks

1. Commonwealth Bank.
2. ANZ Banking Group.
3. Westpac.
4. National Australian Bank (NAB)
5. Macquarie Group.
6. Bendigo and Adelaide Bank.
7. Suncorp Bank.
8. Bank of Queensland.
9. ING Bank (Australia) Limited.
10. HSBC Bank Australia.
11. Commonwealth Bank: The Commonwealth Bank is a multinational bank with a series of businesses across New Zealand, Asia, the United States, and the United Kingdom. Commbank was founded on December 22, 1911, in Melbourne, Australia. Commonwealth Bank is the largest and biggest bank in Australia by assets, deposits, market capitalization, and a number of branches and ATMs. Commonwealth bank shares are traded on the Australian Securities Exchange with a market capitalization of $170.52 billion AUD
12. Westpac

Westpac is a banking corporation in Australia and a multinational banking and financial services company located in Melbourne, Australia. Westpac in Australia is the second-largest bank by assets and the fourth-largest bank by market capitalization of 77.23 billion AUD. The operation is in both Australia and New Zealand. It was established in 1817, with headquarters in Sydney.

3. National Australian Bank (NAB)

NAB means National Australian Bank, and it is headquartered in Melbourne, Australia. The National Bank of Australasia and the Commercial Banking Company of Sydney merged and formed this bank. NAB is the third largest bank in Australia, with a Market capitalization of 99.85 billion AUD Founded: October 1, 1981.

4.  ANZ Banking Group

ANZ means Australia and New Zealand Banking and was Founded: in 1835 in London, United Kingdom, Its Headquarters are located in Melbourne, Australia and New Zealand Banking, with a Market capitalization of 77.23 billion AUD

5. Macquarie Bank is an Australian financial service group. The Macquarie is a bank that was founded: in 1969 in Sydney, Australia, with a Market capitalization of 63.54 billion AUD
6. Bank of Queensland: The Bank of Queensland is a retail bank with headquarters in Brisbane, Queensland, and it was founded in 1863 with a market capitalization of 4.98 billion AUD. The Bank is one of the oldest financial institutions in Queensland, with 163 branches in Australia
7. Bendigo Bank is a financial institution and Bendigo Bank is known as Bendigo and Adelaide Bank Ltd. It was founded in 1858. It is one of the largest retail banks in Australia.
8. AMP Bank Ltd. means Australia Mutual Provident Society and is a financial services company in Australia and New Zealand with a market capitalization of 3.73 billion AUD. It was established as a leader in the home loan banking sector. It was established on January 1, 1849, as a non-profit society, and in 1998, the Insurance Australia Mutual Provident Society was demutualized into an Australia Public Company.
9. Suncorp Bank: Suncorp Bank is a part of the Suncorp Group with head offices in Brisbane, Australia, and Suncorp Bank provides general insurance, banking, life insurance, and wealth management services in Australia and New Zealand. it The market cap is $8.44 billion, which makes Suncorp the world’s 1520th most valuable company by market cap
10. HSBC Bank Australia: HSBC Bank Australia is the 10th largest bank in Australia and was founded in 1985. HSBC offers a wide range of banking and financial services that include retail, private, trade, financial, and treasury banking in Australia through a network of 36 branches and offices.

Four of the biggest banks in Australia

The four biggest banks in Australia are below:

1. Commonwealth Bank of Australia (CBA)
2. Westpac Banking Corporation (WBC)
3. National Australia Bank (NAB)
4. Australian & New Zealand Banking Group (ANZ)

Australia-wide or multiple states Banks

1. AMP Bank
2. ANZ
3. Commonwealth Bank
4. IMB Bank
5. ME Bank
6. NAB
7. St George Bank
8. Suncorp Group
9. Westpac
10. Beyond Bank Australia (NSW, WA, SA, ACT)
11. Defense Bank (for the Australian defense force and the wider community)
12. Delphi Bank (NSW, VIC, SA)
13. Hume Bank
14. G&C Mutual Bank (NSW, VIC)
15. Rural Bank (mainly SA and VIC but also nationally through Bendigo Bank and Adelaide Bank)
16. Teachers Mutual Bank

Foreign-owned subsidiaries Banks in Australia

1. Arab Bank Australia
2. Bank of China, Australia
3. Citigroup
4. Deutsche Bank Australia
5. HSBC
6. ING Direct (a subsidiary of a Dutch bank)
7. Investec Bank
8. Rabobank

New South Wales

1. Bank of Sydney
2. Police Bank (police members and their families)

Victoria Banks

1. Bank Australia
2. Bank of Melbourne
3. Bendigo Bank
4. Macquarie Bank
5. BankVic (police, health, emergency and public services)
6. Victoria Teachers Mutual Bank (teachers)

List of Banks in Queensland

1. Auswide Bank
2. Bank of Queensland
3. Heritage Bank
4. QT Mutual Bank (teachers)

Western Australian Banks

1. Bankwest
2. P&N Bank

South Australia Banks

1. Adelaide Bank
2. BankSA
3. Tasmania
4. MyState Bank

List of Credit Unions Banks  in Australia

Here are the 36 credit unions and building society businesses in Australia as of 2022. The list is

1. South West Credit Union: Your Local Bank
2. Credit Union SA
3. Macquarie Credit Union
4. People’s Choice Credit Union
5. Transport Mutual Credit Union
6. New England Credit Union Ltd.
7. Police Credit Union
8. Credit Union Australia
9. Laboratories Credit Union Limited
10. Community First Credit Union—Black Town
11. Orange Credit Union
12. Great Southern Bank
13. People’s Choice
14. MOVE Bank
15. Illawarra Credit Union
16. Australian Credit Management Pty Ltd
17. Broken Hill Community Credit Union
18. Pulse Credit Union
19. First Choice Credit Union

List of Australian Banks that offer Student Loans

1. HDFC Bank
2. State Bank of India
3. Union Bank of India
4. Axis Bank