Australia has a total of 53 banks of which 14 are managed by the government
In this article below we are going to show you the top 10 best banks in Australia 2022.
For anyone who is into a career and needs a bank to manage his finances this article below will guide you on the best bank to select as your choice, To know everything about them before trusting them
The top 10 banks in Australia are:
Commonwealth Bank is a large bank with institutions all over New Zealand, Asia, Fiji US, and UK. It was Founded in 1911, it has a headquarters in Sydney. The number of personnel’s they employ annually is approximately 51,800 and has more than 11,000 branches.
It is currently ranked as the largest bank in Australia. It currently provides retail, business, institutional banking, and wealth management products and services to its 16.6 million customers.
As at 2016, the bank had a total of $740 billion as assets and a total income of $19.5 billion.
Australia and New Zealand Banking Group (ANZ):
ANZ was Founded in 1835, it is also considered as one of the largest among the banks in Australia and provides various banking and financial products and services to customers. The bank can divisibly be classified into 2 groups Which are; Insurance and Funds Management units, which serves as an insurance avenue and Investment center.
ANZ operates across 34 centers across US, Europe, Australia, New Zealand, Asia-Pacific region, and Middle East.
46,000 personnels are been employed annually it’s headquarters is sited in Melbourne.
National Australian Bank (NAB):
The third among the top 10 best bank is NAB, it was formed as the merging of the National Bank of Australia and the Commercial Banking Company of Sydney in 1982.
It has its headquarters in docklands and branches over 820 centers present in New Zealand, US, Asia, and Europe.
At total of 35,000 employee’s are welcomed into the institutions annually they have over 7million customers around the world.
Australia’s first bank is known as WestPac, established in 1817 as the Bank of New South Wales. In 1982, the name was changed to Westpac Banking Corporation when BNSW merged with the Commercial Bank of Australia. It has Five divisions through which banking services are provided Which are; Consumer Bank, Business Bank, BT Financial Group, Westpac Institutional Bank, and Westpac New Zealand. 32,000 staff members are also employed into the bank annually. Its Headquarters is in Sydney,
Bank of Queensland:
Bank of Queensland was Founded in 1874, it is among one of the oldest banks in Australia. It has a Headquarters in Queensland, it offers retail banking services. The bank employs 48,000 staff members and has over 200 branches across Australia.
The total income of the bank as at 2016 was $394 million, ranking it as one of the top banks in Australia.
It Was Founded in 1969, and has its headquaters in Sydney. Macquarie is among one of the largest banks across Australia which provides services in terms of management, finance, banking, advisory, and capital solutions and many more. 13,500 Workers are employed across all the branches annually.
It had a total income of $8.3 billion in 2017
It was formed as Bendigo Bank and Adelaide Bank were merged together in 2007. It is also considered one of the largest retail banks in Australia, with over 7,200 employees annually.The Headquarters can be found in Bendigo, it operates across Adelaide and South Australia.
It had a total income of $1.23 billion as at 2016.
AMP Bank Ltd
AMP Bank was founded in 1988 and provides retail banking services and retirement payment to government workers. It has its Headquarters in Sydney, 6,000 Employee’s are taken annually. AMP Bank is best known for the provision of wide range services. It is considered as the leading bank in Australia because it has independent wealth management companies in Australia and New Zealand.
AMP Bank has over Five million retail customers and 400 institutional across Australia and New Zealand. It also has an institution in Asia, Middle East, Europe, and North America.
The total income of the bank as at 2016 was $4,900 million
Suncorp Bank is well known for Provision of general insurance, life insurance, and wealth management services in Australia and New Zealand. 1902 was declared as the founding date, the bank can be locate at the southeast corner of Queensland known as Brisbane. Suncorp Bank employs over 13,500 personnels and has approximately nine million wide range customers in Australia and New Zealand.
Bankwest was recently also flagged as best bank among the top ten list. It was founded in 1895 as a local loan giver to support the State’s farming industries in rural areas in Australia, It was known in 1945 as Agricultural Bank which later changed to Bankwest in 1994. Its offices can be found across Adelaide, Brisbane, Canberra, Melbourne, and Sydney.
With few employees of 920, Bankwest is widely known as a great avenue for personal banking, business banking, commercial banking, corporate and private banking, agri-business finance, and other financial services.
It had a total income of $1.43 billion as at 2016