List of banks in Australia: Difference between revisions

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The following is the list of banks in Australia, as well as restricted ADIs,^[1] credit unions, friendly societies and subsidiaries and branches of foreign banks in Australia. Financial institutions in Australia are supervised by the Australian Prudential Regulation Authority (APRA) as authorised deposit-taking institutions (ADI) under the Banking Act 1959 (Cth), as at 2 August 2017.^[2]

Central bank

Reserve Bank of Australia

Australian-owned ADIs (e.g. banks and building societies)

Bank	Headquarters	Established	Owned by / Subsidiary of
ubank (previously 86400)	Sydney	2019	Subsidiary of UBank a division of National Australia Bank^[3]
AMP Bank	Sydney	1849
Australia & New Zealand Banking Group (ANZ)	Melbourne	1835
Australian Military Bank (previously Australian Defence Credit Union)^[4]	Sydney	1959
Australian Mutual Bank (previously Sydney Credit Union & Endeavour Mutual Bank)^[5]	Sydney	1953
Australian Settlements Limited (ASL)^[6]	Sydney	1993
Australian Unity Bank Ltd	Melbourne	2012
Auswide Bank formerly Wide Bay Building Society	Bundaberg	1966
Bank Australia (previously Members and Education Credit Union & Bankmecu)	Melbourne	1957
BankFirst	Melbourne	1972
Bank of Melbourne	Melbourne	2011	Subsidiary of Westpac
Bank of Queensland	Brisbane	1863
BankSA	Adelaide	1848	Subsidiary of Westpac
BankVic	Melbourne	1974
Bankwest	Perth	1895	Subsidiary of the Commonwealth Bank
Bendigo & Adelaide Bank	Bendigo	1858
Beyond Bank Australia	Adelaide	2008
Challenger Bank (prev MyLife MyFinance)^[7]	Melbourne	2022
Clean Energy Finance Corporation	Sydney	2012	Owned by the Australian Government
Commonwealth Bank	Sydney	1911
Defence Bank	Melbourne	1975
Delphi Bank (previously Bank of Cyprus Australia)^[8]	Melbourne	2000	Division of Bendigo & Adelaide Bank
Gateway Bank	Sydney	1955
G&C Mutual Bank	Sydney	1959
Greater Bank	Newcastle	1945
Heritage Bank	Toowoomba	1875
Hume Bank	Albury	1955
IMB Bank	Wollongong	1880
Macquarie Bank	Sydney	1969
ME Bank	Melbourne	1994	Subsidiary of the Bank of Queensland
MyState Bank	Hobart	2009
National Australia Bank	Melbourne	1982
Newcastle Permanent Building Society	Newcastle	1903
P&N Bank	Perth	1990
Police Bank	Sydney	1964
QBank^[9]	Brisbane	1964
Qudos Bank	Sydney	1959
RACQ Bank^[10]	Brisbane	1965	Owned by Royal Automobile Club of Queensland
Regional Australia Bank	Armidale	1969
Rural Bank (previously Elders Rural Bank)^[11]	Melbourne	2000	Subsidiary of Bendigo & Adelaide Bank
St George Bank	Sydney	1992	Subsidiary of Westpac
Suncorp Bank	Brisbane	1902
Teachers Mutual Bank	Sydney	1966
Tyro Payments	Sydney	2003
UBank	Melbourne	2008	Division of National Australia Bank
Unity Bank	Sydney	1970
Up^[12]	Melbourne	2018	Subsidiary of Bendigo & Adelaide Bank
Westpac (previously Bank of New South Wales)	Sydney	1817

Restricted ADIs (Restricted Authorised Deposit-taking Institutions)

Restricted ADIs are newly licensed ADIs within Australia. Restricted ADIs have the same obligations as full ADIs, but are restricted to only taking a total of $2 million of customer deposits during their restricted period. To protect these deposits, Restricted ADIs are required to hold a minimum of $3 million of prudential capital, as well as a $1 million resolution reserve to resolving any legal matters (or government costs for invoking the Financial Claims Scheme).

Restricted ADIs have a two-year period to transition to being an unrestricted ADI (e.g. a full bank). This two-year period is designed to allow Restricted ADIs to build their systems and test them with a limited number of customers (less than 100). Once ready, the Restricted ADI can apply to APRA for the removal of restrictions, with the ADI then allowed to offer services to the general public.

Restricted ADIs	Headquarters	Licensing date
Alex Bank	Brisbane	7 Jul 2021
Avenue Bank	Sydney	7 Sep 2021
IN1Bank	Sydney	12 Dec 2019; RADI extension to 12 Dec 2022
International Bank of Australia	Sydney	3 Nov 2022
Islamic Bank Australia	Sydney	5 July 2022

Credit Unions

Credit Union	Headquarters	Owned by / Subsidiary of
Australian Central Credit Union Ltd (t/a People's Choice Credit Union)	Adelaide, SA
Australian Military Bank Ltd	Sydney, NSW
B&E Ltd (t/a Bank of us)	Launceston, TAS
Bank Australia	Kew, VIC
Bank of Heritage Isle	Surry Hills, NSW	Division of Police Bank Ltd
Bananacoast Community Credit Union Ltd (t/a bcu)	Coffs Harbour, NSW	Division of Police & Nurses Ltd
Bankstown City Unity Bank	Bankstown, NSW	Subsidiary of Unity Bank Ltd
Broken Hill Community Credit Union Ltd (t/a BHCCU)	Broken Hill, NSW
Cairns Penny Savings & Loans Ltd (t/a Cairns Bank)	Cairns, QLD
Catalyst Money	Sydney, NSW	Division of Community Alliance Credit Union Ltd
Central Murray Credit Union Ltd	Yarrawonga, VIC
Central West Credit Union Ltd	Parkes, NSW
Coastline Credit Union Ltd	West Kempsey, NSW
Community Alliance Credit Union Ltd	Wollongong, NSW
Community CPS Australia Ltd (t/a Beyond Bank Australia)	Adelaide, SA
Community First Credit Union Ltd	Sydney, NSW
Credit Union Australia Ltd (t/a Great Southern Bank)	Brisbane, QLD
Credit Union SA	Adelaide, SA
DNISTER Ukrainian Credit Co-operative Ltd	Essendon, VIC
EECU Ltd (Esso Employees' Credit Union) (t/a Nexus Mutual)	Melbourne, VIC	Division of Beyond Bank Australia
Family First Credit Union Ltd	Lithgow, NSW
Fire Brigades Employees' Credit Union Ltd	Surry Hills, NSW
Fire Service Credit Union Ltd	Adelaide, SA
Firefighters Mutual Bank	Homebush, NSW	Division of Teachers Mutual Bank Ltd
First Choice Credit Union Ltd	Orange, NSW
First Option Credit Union Ltd	Melbourne, VIC
Ford Co-operative Credit Society Ltd (t/a Geelong Bank)	Geelong, VIC
G&C Mutual Bank Ltd	Sydney, NSW
Goulburn Murray Credit Union Cooperative Ltd (t/a gmcu)	Shepparton, VIC
Greater Bank	Hamilton, NSW
Heritage Bank	Toowoomba, QLD
Horizon Credit Union Ltd (t/a Horizon Bank)	Wollongong, NSW
Hume Bank	Albury, NSW
Illawarra Credit Union	Wollongong, NSW	Division of Community Alliance Credit Union Ltd
IMB Limited (t/a IMB Bank)	Wollongong, NSW
Intech Bank	St Leonards, NSW	Division of Bank Australia Ltd
Laboratories Credit Union Ltd (t/a LCU)	North Ryde, NSW
Lysaght Credit Union Ltd	Wollongong, NSW
Macarthur Credit Union Ltd (t/a The Mac)	Camden, NSW
Macquarie Credit Union Ltd	Dubbo, NSW
Maitland Mutual Building Society Ltd (t/a The Mutual Bank)	East Maitland, NSW
Northern Inland Credit Union Ltd	Tamworth, NSW
NOVA Mutual Ltd	Newcastle, NSW	Agent of Bendigo & Adelaide Bank
Orange Credit Union Ltd	Orange, NSW
Police Financial Services Limited (t/a BankVic)	Melbourne, VIC
Police Bank Ltd	Sydney, NSW
Police & Nurses Ltd (t/a P&N Bank)	Perth, WA
Police Credit Union Ltd	Adelaide, SA
QPCU Ltd (t/a QBANK)	Brisbane, QLD
Queensland Country Bank Ltd	Brisbane, QLD
Railways Credit Union Ltd (t/a MOVE Bank)	Brisbane, QLD
Regional Australia Bank	Armidale, NSW
Shoalhaven Community Credit Union	Nowra, NSW	Division of Community Alliance Credit Union Ltd
South West Slopes Credit Union Ltd	Young, NSW
Southern Cross Credit Union Ltd	Kingscliff, NSW
South-West Credit Union Co-Operative Ltd	Warrnambool, VIC	Division of Beyond Bank Australia
Summerland Credit Union Ltd	Lismore, NSW
Teachers Mutual Bank Ltd	Homebush, NSW
The Capricornian Ltd	Rockhampton, QLD
Traditional Credit Union Ltd	Casuarina, NT
Transport Mutual Credit Union Ltd	Surry Hills, NSW
UniBank	Homebush, NSW	Division of Teachers Mutual Bank Ltd
Unity Bank Ltd	Sydney, NSW
Victoria Teachers Ltd (t/a Bank First)	Hawthorn East, VIC
Warwick Credit Union Ltd (t/a Warwick Credit Union, Gympie Credit Union, Dalby Credit Union)	Warwick, QLD
WAW Credit Union Co-Operative Ltd (t/a BankWAW)	Wodonga, VIC
Woolworths Team Bank Ltd	Mulgrave, VIC

Australian friendly societies

Friendly society
Austock Life
Australian Friendly Society
Australian Scholarships Group Friendly Society
Australia Unity (parent of Lifeplan Australia Friendly Society)
Centuria Life
Foresters Friendly Society
Friendly Society Medical Association (t/a National Pharmacies)
KeyInvest
NobleOak Life
Maryvale Friendly Society
Queensland Irish Association Friendly Society
Sureplan Friendly Society
Transport Friendly Society
Victorian Friendly Societies Pharmacies Association

Foreign-owned subsidiary banks

Foreign banks wishing to carry on a banking business in Australia must obtain a banking authority under the Banking Act 1959 issued by APRA, 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 may operate a representative office for liaison purposes, but the activities of that office are restricted.^[13]

There are a number of foreign subsidiary banks; however, only a few have a retail banking presence — HSBC Bank Australia, Bank of Sydney and Citibank Australia have a small number of branches. Foreign banks have a more significant presence in the Australian merchant banking sector.

Bank	Headquarters
Arab Bank Australia	Sydney
Bank of China (Australia)	Sydney
Bank of Sydney, subsidiary of Bank of Beirut	Sydney
Citibank Australia, subsidiary of nab	Sydney
HSBC Bank Australia	Sydney
HDFC Bank Australia	Sydney
ING Bank (Australia) a subsidiary of ING Group, Netherlands	Sydney
Rabobank Australia (a subsidiary of Rabobank Nederland from October 1994)	Sydney

Branches of foreign banks

ABN AMRO Bank N.V.
Bank of America, National Association
Bank of Baroda
Bank of China Limited
Bank of Communications Co., Ltd.
Barclays Capital (the trading name of Barclays Bank plc)
BNP Paribas
China Construction Bank Corporation
China Everbright Bank Co. Ltd.
Credit Suisse
DBS Bank Limited
Deutsche Bank AG
HBOS Treasury Services plc
HSBC Bank plc
ING Bank NV
JPMorgan Chase Bank, National Association
Mega International Commercial Bank Co., Ltd.
Mizuho Corporate Bank, Ltd
National Bank of Greece
Oversea-Chinese Banking Corporation Limited
Rabobank Nederland (the trading name of Co-operative Central Raiffeisen-Boerenleenbank B.A.)
Royal Bank of Canada
Société Générale
Standard Chartered Bank
State Bank of India
State Street Bank and Trust Company (SSBATC)
Sumitomo Mitsui Banking Corporation
The Bank of Tokyo-Mitsubishi UFJ, Ltd
The Hongkong and Shanghai Banking Corporation Limited
The Northern Trust Company
The Royal Bank of Scotland Plc
Taishin International Bank
Taiwan Business Bank
Taiwan Cooperative Bank
UBS AG
Union Bank of India
United Overseas Bank Limited
Woori Bank

References

^ APRA finalises new Restricted Authorised Deposit-taking Institution licensing framework
^ APRA, "List of Authorised Deposit-taking Institutions", as at 2 August 2017
^ "86 400 to combine with UBank to accelerate growth" (PDF). 86 400. 29 January 2021. Retrieved 4 July 2021.
^ "Home". australianmilitarybank.com.au.
^ "About us | Australian Mutual Bank". australianmutual.bank. Retrieved 30 November 2021.
^ "Home". asl.com.au.
^ "Home". www.bankchallenger.com.au/.
^ "Home". delphibank.com.au.
^ "Home". qbank.com.au.
^ "RACQ Bank – Personal Banking, Loans, Accounts - RACQ".
^ "Our history".
^ "Digital bank up turns, well, up".
^ "foreignbanks.ch".

External links

Australia's Banking History, ABC
History of Banks, Australian Banking Association

[1] APRA finalises new Restricted Authorised Deposit-taking Institution licensing framework

[2] APRA, "List of Authorised Deposit-taking Institutions", as at 2 August 2017

[3] "86 400 to combine with UBank to accelerate growth" (PDF). 86 400. 29 January 2021. Retrieved 4 July 2021.

[4] "Home". australianmilitarybank.com.au.

[5] "About us | Australian Mutual Bank". australianmutual.bank. Retrieved 30 November 2021.

[6] "Home". asl.com.au.

[7] "Home". www.bankchallenger.com.au/.

[8] "Home". delphibank.com.au.

[9] "Home". qbank.com.au.

[10] "RACQ Bank – Personal Banking, Loans, Accounts - RACQ".

[11] "Our history".

[12] "Digital bank up turns, well, up".

[13] "foreignbanks.ch".

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 | [[IN1Bank]] || [[Sydney]] || 12 Dec 2019; RADI extension to 12 Dec 2022
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