Winner: Commonwealth Bank. While we are more than comfortable with the financial risk posed by both companies, CBA is ahead of Westpac by the finest of margins.
A total of 415 banks across the globe made Forbes' final rankings in 2023, with Newcastle Permanent topping the tally for Australia. Newcastle Permanent Chief Distribution Officer, Paul Juergens, said while the accolade was a pleasant surprise, it was also well-earned.
A bank you can trust and depend on.
Westpac is a friendly service and they are willing to help where they can. I have been through many banks and this is definitely the bank I'm sticking with. It's convenient and the online banking is easy to use.
Bendigo Bank has been named the most trusted bank in Australia by Roy Morgan for the fourth consecutive quarter, climbing further ahead of competitors on the list of Australia's most trusted brands.
At Westpac Private Bank, it is a number of factors: Exceptional client experience delivered by a dedicated Private Banking team. A dedicated onshore team of lending specialists who are experts in the unique and often complex needs of high net worth clients.
The 'big four' refers to Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corporation (ASX: WBC), ANZ Group Holdings Ltd (ASX: ANZ), and National Australia Bank Ltd (ASX: NAB).
In October 1982, the Bank of NSW merged with the Commercial Bank of Australia, taking on the new name of Westpac Banking Corporation.
A bank should fit your unique financial situation. Each bank differs in its strengths, so finding the right bank to help you meet your needs — whether it's earning more on savings or access to a large ATM network — is key.
In general, having three to five bank accounts can be helpful for managing your money. For instance, if you're married, you may share a joint checking and a joint savings account with your spouse. You and your spouse may also decide to have individual checking and savings accounts, as well.
CBA is the largest and most well-constructed of the big four banks. The systems and structures set in place by management have set the company up to be the best prepared of its peers to ride out the short term volatility that may result from the unpredictable external environment.
A poll of bank customers has found AMP, Bank of China and Westpac are among Australia's least-trusted banks while Bendigo Bank, ING and RACQ Bank are some of the most trusted.
CBA is the biggest of the Big Four Banks by market capitalisation. It also has the highest market share in payment terminals and business transaction accounts. However, NAB is the largest lender with $288bn in loans vs CBA's $254bn.
Westpac is Australia's oldest bank and company, one of four major banking organisations in Australia and one of the largest banks in New Zealand. We provide a broad range of banking and financial services in these markets, including consumer, business and institutional banking and wealth management services.
You can nickname your accounts in Online Banking or the Westpac App. The nickname is specific to your profile. Joint account holders can choose their own nickname for the same account. Nicknames can be letters, numbers and special characters including spaces and must be less than 30 characters.
With $5.5 trillion in assets, Industrial and Commercial Bank of China Limited is the largest bank in the world, as measured by total assets. Given its size and dominance, it's no surprise that ICBC China has earned high marks for financial stability and profitability.
CBA rose to 33rd place from 56th in the survey's overall global ranking and climbed to 16th place from 31st among global banks for the Real Money investor category, which ranks institutional investment flows.
Summary. Commonwealth Bank of Australia ranks 150th in the Financial System Benchmark.