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BANKS | Banks In Australia:
Australia- one of the big name. Its banking has also an edge over other banks. The banks of Australia have a significant role in stabilizing the country’s economy and maintaining the financial system. It not only follows the traditional banking services. Rather, it also offers services to the enterprises ,traders in financial markets , insurance ,funds management and stockbroking. Australia is running 53 banks, among which the government owns the 14 banks.
Despite the high rates of households debt, strong home prices and moderate wage growth, it has a stable banking system. Let’s have a bird’s eye view on the largest banks in the Australia.
A Bank that has its branches across New Zealand, Fiji, Asia, the US, and the UK. This multinational bank was founded in 1911, and the headquarter of the bank is in Sydney. The most amazing thing is that it has employed more than 51,800 employees and is operating in more than 11,000 branches.
Commonwealth Bank is the largest bank in Australia that offers an amazing services teemed with a variety of financial products. The products that it is offering now are retail, business, institutional banking, and wealth management. It has a total answer of US $ 740 billion.
The one of the largest bank that offers multitudes of services , was founded in 1835.The bank’s headquarter is in Melbourne.The bank is operative in 34 markets across the US, Europe, Australia, New Zealand, the Asia-Pacific region, and the Middle East.When it comes to discuss about the bank’s wealth, the Australian bank’s wealth is composed of Insurance and Funds Management business units that offer insurance, investment, and superannuation solutions. It offers the products to retail, high net worth, small business, corporate, commercial, and institutional customers. It has employed more than 46,000 employees and has a total asset of US $ 726 billion.
The bank has been giving a good wages to the employees and is working for the welfare of a nation.
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