The Australian banking sector is stable and reliable. There are more than 50 Australian-owned banks including four neobanks, 7 subsidiaries of foreign banks as well as 43 branches and 15 representative offices of foreign banks. The Reserve Bank of Australia (RBA, established on January 14, 1960, is the central bank of the country.

Big Four Banks in Australia

The Australia's Big Four banks are among the highest rated in the world. The Banks offers a full range of products and services to individuals, businesses and corporates including transaction and savings accounts, mortgages, personal and auto loans, debit and credit cards, asset management, mobile and online baking, foreign currency exchange, wire transfers and much more. The Banks’ common shares are traded on the Australian Securities Exchange (ASX).

Bank Headquarters Number of Employees Founded
Australia and New Zealand Banking Group (ANZ) Melbourne 37,590 1835
Commonwealth Bank of Australia (CBA) Sydney 48,240 1911
National Australia Bank Limited (NAB) Melbourne 34,370 1982
Westpac Banking Corporation (WBC) Sydney 33,290 1817

Other Australian-owned Banks

Bank Headquarters Notes
86 400 Ltd Sydney It is a digital mobile bank. 86,400 is the number of seconds in a day.
AMP Bank Ltd Sydney A subsidiary of AMP Limited
Australian Military Bank Sydney Formerly Australian Defence Credit Union (ADCU)
Australian Unity Bank Melbourne A wholly owned subsidiary of Australian Unity Limited
Australian Mutual Bank Ltd Sydney The result of merger Endeavour Mutual Bank and Sydney Credit Union.
Auswide Bank Bundaberg It was formerly known as Wide Bay Building Society.
Bank First (formerly Victoria Teachers Mutual Bank) Melbourne A trading name of Victoria Teachers Limited
B&E Ltd Launceston B&E Ltd trades as Bank of us.
Bank Australia Ltd Melbourne It was previously known as Bankmecu.
Bank of Melbourne Melbourne A subsidiary of Westpac Banking Corp
Bank of Queensland Brisbane  
BankSA Adelaide A subsidiary of Westpac Banking Corporation
Bankwest Perth A subsidiary of Commonwealth Bank. It was formerly known as The Bank of Western Australia.
BankVic Melbourne A trading name of Police Financial Services Limited
Bendigo and Adelaide Bank Bendigo Subsidiaries: Adelaide Bank, Alliance Bank, AWA Alliance Bank, BDCU Alliance Bank, Bendigo Bank, Circle Alliance Bank, Community Sector Banking, Delphi Bank, Nova Alliance Bank, Rural Bank, Service One Alliance Bank
Border Bank Sydney A trading name of Police Bank
Beyond Bank Australia Adelaide Formerly Community CPS Australia Ltd
BOQ Specialist Brisbane A division of Bank of Queensland
Beyond Bank Australia Adelaide Beyond Bank Australia is a trading name of Community CPS Australia Ltd.
BNK Banking Corporation Perth Formerly known as Goldfields Money Limited
Community Sector Banking Pty North Wollongong A subsidiary of Community Sector Enterprises, which is a joint venture between Bendigo Bank and Community 21 Ltd.
Defence Bank Melbourne  
Delphi Bank Melbourne It was formerly known as Bank of Cyprus Australia
Endeavour Mutual Bank Ltd   A division of Australian Mutual Bank Ltd
Esanda Finance Corporation Melbourne Esanda, a subsidiary of Macquarie Group, offers car and boat finance and insurance services.
Firefighters Mutual Bank Sydney A division of Teachers Mutual Bank Ltd
First Option Bank Ltd Melbourne Previously known as First Option Credit Union
G&C Mutual Bank Sydney  
Gateway Bank Ltd Sydney  
Geelong Bank   A trading name of Ford Co-operative Credit Society Ltd
Greater Bank Newcastle  
Heritage Bank Toowoomba  
Horizon Bank Wollongong A trading name of Horizon Credit Union Ltd
Hume Bank Limited Albury  
IMB Bank Wollongong A trading name of IMB Ltd
Judo Bank Pty Ltd   A digital mobile bank (or neobank)
Macquarie Bank Ltd Sydney A dvision of Macquarie Group Limited
Members Equity Bank Limited Melbourne An Australian direct bank trading as ME Bank
MyState Bank Ltd Hobart  
P&N Bank Perth P&N Bank is a trading name of Police & Nurses Ltd.
Police Bank Ltd Sydney Police Bank trades as Border Bank.
QBANK Brisbane QBANK is a trading name of QPCU Limited.
Qudos Bank Sydney Qudos Bank is a trading name of Qudos Mutual Limited.
RACQ Bank Brisbane A trading name of Members Banking Group Ltd, a subsidiary of the Royal Automobile Club of Queensland.
Reliance Bank Sydney A division of Unity Bank Limited
Regional Australia Bank Ltd Armidale A trading name of Community Mutual Ltd
RSL Money Sydney A joint initiative between Returned & Services League(RSL) and Australian Military Bank
Rural Bank Limited Melbourne A subsidiary of Bendigo and Adelaide Bank
SERVICE ONE Alliance Bank Canberra An alliance between SERVICE ONE Mutual Ltd and Bendigo and Adelaide Bank
St.George Bank Sydney A subsidiary of Westpac Banking Corporation
Suncorp Bank Brisbane A subsidiary of Suncorp Group
Teachers Mutual Bank Ltd Sydney trading as Firefighters Mutual Bank, Health Professionals Bank, Teachers Mutual Bank and UniBank
Sydney Mutual Bank Sydney A division of Australian Mutual Bank Ltd
The Rock Rockhampton A division of MyState Bank Limited
Victoria Teachers Mutual Bank
(now Bank First)
Melbourne A trading name of Victoria Teachers Ltd
Volt Bank Ltd Sydney A digital mobile bank
Ubank Melbourne A division of National Australia Bank
UniBank Nedlands A division of Teachers Mutual Bank
Unity Bank Limited Sydney  
Xinja Bank Limited Sydney A digital mobile bank
Woolworths Team Bank Limited    

Subsidiaries of Foreign Banks in Australia

There are seven subsidiaries of foreign banks in Australia. All of them are headquartered in Sydney.

Bank Parent organization Parent Company HQ
Arab Bank Australia Ltd Arab Bank Amman, Jordan
Bank of China (Australia) Ltd Bank of China Beijing, China
Bank of Sydney Ltd Bank of Beirut S.A.L. Beirut, Lebanon
HSBC Bank Australia Ltd HSBC Holdings plc London, UK
Citibank Australia Citigroup Pty Ltd New York City, USA
ING Bank (Australia) Ltd (formerly ING Direct) ING Groep N.V. Amsterdam, Netherlands
Rabobank Australia Ltd Cooperatieve Rabobank U.A. Utrecht, Netherlands

Branches of Foreign Banks in Australia

There are more than 40 branches of foreign banks in Australia. Branches of foreign banks don’t to accept retail deposits from local residents of less than $250K.

Bank Parent Company HQ
Agricultural Bank of China Beijing, China
ABN AMRO Bank N.V., Sydney Branch Amsterdam, Netherlands
Bank of America, N.A., Sydney Branch Charlotte, United States
Bank of Baroda, Sydney Branch Mumbai, India
Bank of China Limited Beijing, China
Bank of Communications Co Shanghai, China
Bank of Taiwan Taipei, Taiwan
BNP Paribas, Australia Branch Paris, France
BNP Paribas Securities Services Paris, France
Canadian Imperial Bank of Commerce Toronto, Canada
China Construction Bank Corporation Beijing, China
China Everbright Bank Co. Ltd Beijing, China
China Merchants Bank Co., Ltd Shenzhen, China
Citibank, N.A. Sioux Falls, United States
Cooperatieve Rabobank U.A. Utrecht, Netherlands
Credit Suisse AG Zurich, Switzerland
DBS Bank Ltd Singapore
Deutsche Bank AG Frankfurt, Germany
E.SUN Commercial Bank Taipei, Taiwan
First Commercial Bank Taipei, Taiwan
Hua Nan Commercial Bank Taipei, Taiwan
Industrial and Commercial Bank of China Beijing, China
ING Bank N.V. Amsterdam, Netherlands
Investec Bank Plc London, the UK
JPMorgan Chase Bank, National Association New York City, United States
KEB HANA Bank Seoul, South Korea
Mega International Commercial Bank Co. Taipei, Taiwan
Mizuho Bank Ltd Tokyo, Japan
MUFG Bank, Ltd Tokyo, Japan
OCBC Bank (Oversea-Chinese Banking Corp) Singapore
Royal Bank of Canada Toronto, Canada
Shinhan Bank Co. Ltd Seoul, South Korea
Societe Generale Paris, France
Standard Chartered Bank London, United Kingdom
State Bank of India Mumbai, India
State Street Bank and Trust Company Boston, United States
Sumitomo Mitsui Banking Corporation Tokyo, Japan
Taishin International Bank Co., Ltd Taipei, Taiwan
Taiwan Business Bank, Ltd Taipei, Taiwan
Taiwan Cooperative Bank Ltd Taipei, Taiwan
The Bank of New York Mellon New York City, United States
The Bank of Nova Scotia Toronto, Canada
The Bank of Tokyo-Mitsubishi UFJ (now MUFG Bank) Tokyo, Japan
The Hongkong and Shanghai Banking Corporation Hong Kong
The Northern Trust Company Chicago, United States
UBS AG, Australian Branch Zurich, Switzerland
Union Bank of India Mumbai, India
United Overseas Bank Ltd Singapore
Woori Bank, Sydney Branch Seoul, South Korea

Updated as of December 30, 2019

Representative offices of Foreign Banks in Australia

Representative offices are not authorized deposit-taking institutions. There are fifteen representative offices of foreign banks in Australia.

CaixaBank, S.A.
BBVA (Banco Bilbao Vizcaya Argentaria), a Spanish bank, opened Sydney representative office in 2006 and closed in 2017.
Bank of Valletta plc (BOV), a Maltese bank, closed its Australian office.
China CITIC Bank Corporation
China Development Bank
Commerzbank AG
Credit Industriel et Commercial
CTBC Bank Co., Ltd
Doha Bank Q.S.C.
Global IME Bank Limited
Intesa Sanpaolo SpA
Korea Development Bank
National Bank of Greece
Sumitomo Mitsui Trust Bank
Punjab National Bank (PNB) opened its office in Sydney in 2011 and closed in 2018.
Svenska Handelsbanken AB
The People's Bank of China
Wells Fargo Bank, National Association

Other Authorized Deposit-Taking Institutions

MyLife MyFinance Ltd, located in Melbourne, Victoria, offers savings and access accounts, first home buyers loans, personal and car loans, investment loans, mobile and online banking and more.

Cairns Penny Savings & Loans Ltd offers general banking services.

Australian Settlements Limited (ASL) – A credit cards and transaction processing company.

Cuscal Limited – The largest independent payments company in Australia.

Indue Ltd – Headquartered in Toowong, Brisbane, Indue provides full end-to-end payment solutions.

IN1Bank Ltd – A digital banking company with a restricted ADI license from APRA and a focus on Chinese customers in Australia.

Lutheran Laypeople's League of Australia (LLL Australia), founded in 1921, provides financial support to the Lutheran Church of Australia (LCA). It offers savings accounts and loans.

Paypal Australia Pty Ltd has been present in the country since 2005 and currently has more than seven million customer accounts.

Tyro Payments Limited, the largest EFTPOS provider in Australia, is a fintech institution specializing in merchant credit, debit and EFTPOS card acquiring.