Commonwealth Bank of Australia (CBA) is the leading bank in Australia providing a diverse range of banking, insurance, investment and wealth management services to more than 16.5 million retail, business and institutional customers through over 800 branches and 2,100 ATMs.
Commonwealth Bank of Australia (CBA)
It is the largest of the banks in Australia and offers a diversified range of financial products and services.
Though several small banks are present, four major banks dominate the Australian banking sector- Commonwealth Bank of Australia, Westpac Banking Corporation, Australia and New Zealand Banking Group (ANZ), and National Australia Bank (NAB).
State Bank of India is India's largest and most trusted commercial bank. It is among the oldest banking institutions in the country and is headquartered in Mumbai, Maharashtra.
In addition to being the most trusted bank in the country, Bendigo Bank was named as one of the most trusted brands in Australia with a Net Promoter Score (NPS) of 24.5. Bendigo Bank's NPS is 26.3 points higher than the average of the Australian banking sector.
ANZ Plus continues as Australia's fastest growing new digital bank.
There are currently a number of ATM networks operating in Australia, the largest five of which are: the Commonwealth Bank-Bankwest network (with over 4,000 machines), NAB-rediATM network (with over 3,400 machines), Westpac-St George-BankSA and Bank of Melbourne network (with over 3,000 machines), ANZ (with over 2,600 ...
Forbes Advisor has ranked the ING Savings Maximiser as the best bonus savings account on the market for Australians, due to its straightforward monthly conditions, zero fees, and high rate.
CBA delivers superior customer experience via Australia's #1 banking app. Commonwealth Bank today unveils the latest version of Australia's #1 banking app, CommBank App v5.0.
According to a survey conducted in 2020, Australia's banking customers were overall satisfied with their banks. During the survey period, Heritage Bank received the highest overall customer statisfaction rating at 872 out of 1,000.
In 2022, the ten largest mortgage lenders in Australia had a market share of roughly 92 percent of the mortgage market. The Commonwealth Bank of Australia and Westpac Banking Corporation were the largest mortgage lenders with approximately 6.2 and 5.2 billion Australian dollars in gross mortgage lending, respectively.
The state of each of the Big Four Banks
In the last couple of years, NAB and CBA have been performing better than Westpac and ANZ from many perspectives, especially the share price. CBA has tended to outperform its peers and it has in the last five years, sitting on a 24% gain as of mid-March 2023.
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.
Commonwealth Bank of Australia is the largest of the big four banks and the one assessed as the highest quality by our investment team. This is due to their ability to retain the lion's share of the retail banking market in addition to earning a higher net interest margin income relative to its competitors.
Over the past 18 months NAB Private wealth has gathered four international best private bank awards under its belt, including: Financial Times UK, Global Bank Awards – Best Private Bank in Australia.
The Punjab National Bank scam was touted as India's biggest at Rs 11,400 crore and the main accused were jeweller Nirav Modi, Mehul Choksi, Nishant Modi, Ami Modi and others, including some PNB staff.
IMB Bank took out both the overall bank and the customer-owned bank categories in Canstar's Most Satisfied Customers Awards in 2022.