Currently, the Australian banking sector is dominated by four major banks: Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation. Foreign banks wishing to carry on a banking business in Australia must obtain a banking authority issued by APRA under the Banking Act, either to operate as a wholesale bank through an Australian branch or to conduct business through an Australian-incorporated subsidiary. Foreign banks which do not wish to obtain a banking authority in Australia may operate a representative office in Australia for liaison purposes, but the activities of that office will be restricted.

BANK NAME	FOUNDATION YEAR	DESCRIPTION	FINANCIAL SERVICES	BRANCHES-AUSTRALIA
Commonwealth Bank	1911	The Commonwealth Bank brand is the most recognized brand in the Australian financial services industry. Other award-winning brands within the Group include our wealth management business Colonial First State, our online broking service CommSec and Bankwest.	retail banking, premium banking, business banking, institutional banking, funds management, superannuation, insurance, investment and share broking products and services	London New York Tokyo Hong Kong Shanghai Singapore Auckland Mumbai
Westpac	1817	The Westpac Group leads the global banking community on corporate sustainability, ranked number one out of 190 banks, according to the 2011 Dow Jones Sustainability Index (DJSI).	Bank accounts Credit cards Insurance Investments Home loans Personal loans Super & Retirement Services	Shanghai Singapore Hong Kong Beijing Australia New Zealand
Nab Bank	1893	National Australia Bank is a financial services organization with over 40,000 people, operating more than 1,800 branches and service centers, and responsible to more than 460,000 shareholders.	International trade Finance & loans Small business Investments Insurance Service center	Australia New Zealand, Asia, the United Kingdom and the United States
ANZ Bank	1800	Top of Form ANZ is one of the largest companies in Australia and New Zealand and a major international banking and financial services group, which is among the top 50 banks in the world.	Business banking packages Business transaction accounts Business investment accounts Merchant card services Commercial insurance Foreign exchange and international trade	Cambodia, China, Germany, Hong Kong, India Indonesia Japan Korea Malaysia Singapore Taiwan Thailand UAE United Kingdome USA
AMP Bank	1849	AMP has played a substantial role in shaping modern Australia and New Zealand by helping millions of customers build financial security, providing protection for families and assets, and financing property and infrastructure projects.	Home Loans Superannuation Investments Insurance	Australia
Bank of Queensland	1874	BOQ is one of Australia's most dynamic and innovative financial institutions, with a retail bank offering a network of more than 260 branches across Australia, around 200 of which are operated under a unique Owner-Manager Model, a National Finance division and the St Andrew's Insurance group.	Everyday banking Credit cards Home loans Private bank Wealth management Visa Debit Savings and investment Personal loans Insurance Travel Money Margin lending Change my bank	Australia
Reserve Bank of Australia	1960	The Reserve Bank of Australia conducts monetary policy, works to maintain a strong financial system and issues the nation’s currency. The Reserve Bank commenced operations as Australia’s central bank on 14 January 1960.	Home Loans Superannuation Investments Insurance	Australia
ME Bank	1994	The union movement and some far-sighted business leaders, with the support of the Federal Government, got together to create the first industry super funds.	Home Loans Credit Cards Personal Loans Car Finance Savings Accounts Term Deposits	Australia New Zealand,
Macquarie Bank	1969	Macquarie Group is a leading provider of banking, financial, advisory, investment and funds management services.	Financial Advice Life insurance Futures trading Term deposits Credit cards Home loans	Australia New Zealand,
Bendigo Bank	1858	Bendigo Bank’s 150th Anniversary was celebrated over three days with an official dinner, a staff party and community day. The festivities were captured on camera.	Accounts Cards Loans Personal lnvestmentFinancial Planning Insurance Equipment Foreign Superannuation Retirees Telecommunications	Australia New Zealand,
Suncorp Bank	1996	The Suncorp Group has leading general insurance, banking, life insurance and wealth management businesses in Australia and New Zealand.	Personal Banking Superannuation	Australia New Zealand,
St.George Bank	1848	Whether you’re established or starting a new business getting the right tools for your business is the key to reaching your full potential. This is where St.George BizPack can help.	Home Loans Personal Loans Bank Accounts Credit Cards	Australia India Bangladesh

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Last Updated: 14 January 2013
Editor: Nina Zarabi

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