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. The bank acts mainly as a mortgage lender. It acquired Colonial in 2001 which was considered the best wealth management brands of the country. The bank is the largest bank in Australia in terms of market capitalization and therefore has the most brand recognition compared to any other bank. The local share price is around $50 with a 6% yield.
ANZ
We can call ANZ an all-rounder as it shows good capabilities in many 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. The bank provides the service, with strong emphasize on risk management and assets for investment. The financial sector of Australia and New Zealand mainly rely on this bank.
National Australia Bank Limited
The quality of the bank assets are something to go by as they make it among the top banks though it has been pushed down by the toppers.It has a strong hold on the lending market and therefore enjoys a huge amount of shares in the lending market. It controls several strong financial brands in Australia. The bank has also spread its wings in Europe and has further plans of stretching it beyond. The management plans to invest more in Asia in the next decade to bring to the level of its UK business.
St George Bank
St.Geroge, though newly founded, has secured itself the top five position in the banking industry of Australia. The bank is mainly catering to the needs of regional areas, and also has a good risk management. 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.Its strengths are based on very good customer service, high credit quality, the capability to innovate and manage banking products.
Westpac Banking Corporation
The bank was founded back in 1817, and turned out to be the oldest bank having its base in Sydney. In 2001, it became a public company 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.
If you want to learn more about Australia, please go to top banks to learn more.
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