The Top Four National Banks of Australia and How they Work?

Earlier this year, the Standard & Poor rated Australian banking sector as one of the safest in the world. The banking sector in Australia is making profit and involves low risk. Gavin Gunning, a credit analyst of S&P said, “We believe that Australia is currently one of the five least-risky banking systems of the 86 for which Standard & Poor’s has published banking industry country risk assessments.”

National Banks of Australia

The top national banks of Australia are Commonwealth Bank of Australia, National Australia Bank Limited, Westpac Banking Corporation and Australia and New Zealand Banking Group Limited. A comprehensive study of these four banks could help our readers. Let’s start with

Commonwealth Bank of Australia

The bank is internationally recognized. It has efficient people across all parts of its operation. The senior strives to make the bank a more customer-centered enterprise. The strength of the bank lies in its branding, scale and mix of diversified business techniques. CBA offers a range of financial services such as investment products and superannuation. The group is also the largest fund manager of Australia. The asset management section is responsible for managing investment portfolios for a broad range of retail and wholesale client.

National Australia Bank

NAB is a repudiated enterprise. The bank offers a galore of benefits for stakeholders as well as for employees. Shareholder benefits include low fee card, low fee premium card, Qantas Rewards Card and Velocity Rewards Card. Shareholders also get Flybuys Rewards Card. The Bank offers tons of benefits to it employees. Employees get preferential services which others don’t. They also enjoy banking and financial service discounts, non-cash benefits, NAB superannuation, education and learning facilities and environmentally sustainable benefits.

Australia New Zealand Banking Group

ANZ is not just a top bank in Australia. It is also among world’s top 50 banks. The bank has its operational branches across Asia, Europe, USA, New Zealand and the Pacific region. It offers various benefits to its customers such as no account fee and good interest on term deposit. Prospective customers who are relocating to Australia and willing to open an account could be referred to the industry associates for all types of assistance. The bank also holds excellent growth potential and steady internal workflow.

Westpac Bank

Westpac Bank has more than 12 million customers around the world. It also has the largest branch network in Australia with 1200 branches and 2900 ATMs. In terms of assets, Westpac is Australia’s second largest bank. Shareholders enjoy scores of benefits such as 0.25% interest rate per annum for sum deposit between $20,000 and $250,000. They don’t have to pay establishment fee on selected property loans. Also, on  Premium Option Home Loans or Variable Rate Investment Property Loans, stakeholders don’t have to pay top up fee and can save up to $400. The bank offers employee benefits like attractive superannuation.

The four main banks have the most strident presence on Australia’s soil. Customers are happy with their service and employee benefit is also guaranteed.

Leave a Reply