How Do Top Australian Banks Work

By Investor / Published on Friday, 24 Feb 2017 00:05 AM

Australian banks are one of the most powerful and influential banks, amongst the list of other international banks. They render good services to their clients and keep on devising ways to give facilities to their loyal customers. The top 5 Australian banks are as follows.

Australia Commonwealth Bank

The quality of assets is the biggest strength of Commonwealth Bank. It’s a leading mortgage lender. In 2001, it was awarded as the most prestigious wealth management brands, known as the Colonial. This is Australia’s highest market capitalization bank and has a central presence in the continent’s economy. The public share costs $50, with a gross 6% profit.

ANZ

ANZ is Australia and NewZealand’s cooperative bank, having strong hold in many financial areas. It frequently wins Australia’s bank of the year award because of its amazing customer services. It was among the first ones in introducing 24-hour calls centers which gives you apt personalized service. The bank usually tries to enter Asia markets with small equity investments. Risk management is better and the asset mix is also good. The core markets of Australia and New Zealand feel the strong presence of this bank.

Natianla Bank of Australia

The National Australia Bank possesses an equivalent amount of assets as the top banks of Australia.It has a strong hold on the lending market and therefore enjoys a huge amount of shares in the lending market. Besides receiving shares from being one of the top banks, it has also branched out in other financial endeavors. The bank has operations in Europe and plans to keep this division. The management plans to invest more in Asia in the next decade to bring to the level of its UK business.

St. George Bank limited

St.Geroge, though newly founded, has secured itself the top five position in the banking industry of Australia. The bank has been opened regionally and its risk management has seen fewer errors since its commencement. It has amazing customer service, which makes it a bank that regional people can rely on. St. George vows to tap its potential to the fullest with its strong points.The bank boasts of a successful customer service, reliable credit service and innovative strategies.

Westpac Banking Corporation

The Westpac Bank, located in Sydney is currently the oldest Australian bank, having being founded in 1817. It was only in 2001, that the bank became public with 37,000 employees.This bank too practices good customer service skills and has effective risk management strategies. The bank also has wealth management operations in the strong Bankers Trust. Currently it holds a position in the top 5, when it comes to market capitalization. It has a share of $22 with a 5% profit.

This banking guide is user-friendly resource, which can help you understand Australian banks.

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