List of banks in Australia
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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
Australian-owned ADIs (e.g. banks and building societies)
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 |
|---|
Credit Unions
| Credit Union |
|---|
| Australian Central Credit Union Ltd (t/a People's Choice Credit Union) |
| Australian Military Bank Ltd |
| B & E Limited |
| Bananacoast Community Credit Union Ltd |
| Bankstown City Credit Union Ltd |
| Big Sky Building Society Ltd |
| Broken Hill Community Credit Union Ltd |
| Cairns Penny Savings & Loans Ltd |
| CAPE Credit Union Ltd |
| Central Murray Credit Union Ltd |
| Central West Credit Union Ltd |
| Coastline Credit Union Ltd |
| Community Alliance Credit Union Ltd (t/a Illawarra Credit Union, Western City Credit Union, Catalyst) |
| Community CPS Australia Ltd (t/a Beyond Bank Australia) |
| Community First Credit Union Ltd |
| Community Mutual Limited |
| Country First Credit Union Ltd |
| Credit Union Australia Ltd |
| Credit Union SA Ltd |
| Dnister Ukrainian Credit Co-operative Ltd |
| ECU Limited |
| EECU Limited |
| Family First Credit Union Ltd |
| Fire Brigades Employees' Credit Union Ltd |
| Fire Service Credit Union Ltd |
| Firefighters & Affiliates Credit Co-Operative Ltd |
| First Choice Credit Union Ltd |
| First Option Credit Union Ltd |
| Ford Co-Operative Credit Society Ltd now Geelong Bank |
| Goulburn Murray Credit Union Co-Operative Ltd |
| Greater Building Society Ltd |
| Heritage Bank Ltd |
| Heritage Isle Credit Union Ltd |
| Holiday Coast Credit Union Ltd |
| Horizon Credit Union Ltd |
| Hume Bank Ltd |
| Hunter United Employees’ Credit Union Ltd t/a Hunter United |
| IMB Limited |
| Intech Credit Union Ltd |
| Laboratories Credit Union Ltd |
| Latvian Australian Credit Co-Operative Society Ltd |
| Lysaght Credit Union Ltd |
| Macarthur Credit Union Ltd (t/a The Mac) |
| Macquarie Credit Union Ltd |
| Maitland Mutual Building Society Ltd (t/a The Mutual) |
| Maleny Credit Union Ltd |
| Maritime, Mining & Power Credit Union Ltd |
| mecu Limited (t/a Bank Australia) |
| My Credit Union Ltd |
| Northern Inland Credit Union Ltd |
| Nova Credit Union Ltd |
| Orange Credit Union Ltd |
| Police Financial Services Limited (t/a BankVic) |
| Police Bank Ltd |
| Police & Nurses Ltd |
| Police Credit Union Ltd |
| Pulse Credit Union Ltd |
| QPCU Ltd T/A QBANK |
| Quay Credit Union Ltd |
| Queensland Country Credit Union Ltd |
| Queensland Professional Credit Union Ltd (t/a Your Credit Union) |
| Queenslanders Credit Union Ltd |
| Railways Credit Union Ltd (t/a myMOVE) |
| Regional Australia Bank |
| SGE Mutual Ltd (t/a G&C Mutual Bank) |
| South West Slopes Credit Union Ltd |
| Southern Cross Credit Union Ltd |
| South-West Credit Union Co-Operative Ltd |
| Summerland Credit Union Ltd |
| Sutherland Credit Union Ltd |
| Teachers Mutual Bank Limited |
| The Capricornian Ltd |
| Traditional Credit Union Ltd |
| Transcomm Credit Co-Operative Ltd |
| Transport Mutual Credit Union Ltd |
| Victorian Teachers Mutual Bank Ltd (t/a Bank First) |
| Warwick Credit Union Ltd |
| WAW Credit Union Co-Operative Ltd |
| Woolworths Employees Credit Union Ltd |
| Wyong Council Credit Union Ltd |
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 | 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
See also
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". delphibank.com.au.
- ^ "Home". mylifemyfinance.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
| History | |
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| Currency | |
| State economies | |
| Industries | |
| Taxation | |
| Banking and Finance | |
| Regulatory agencies | |
| Energy | |
| Economic conditions | |
| Unions | |
| Trade agreements | |
