Leading banks in Australia FY 2017, by assets
Largest banks in Australia in the financial year 2017, by assets (in billion Australian dollars)
Commonwealth Bank of Australia is the largest bank in the financial year of 2017, by value of total assets. The bank is among the biggest companies in the nation, consistently holding a spot among the companies with the most valuable brand.
Who are the ‘’big four banks’’?
The banking industry in Australia is heavily concentrated on the “big four”, which refers to the four largest banks that hold more than 80% of all loans from mortgage borrowers. In fact, Commonwealth Bank’s total assets alone holds multiple times more value than the bank in fifth place, Macquarie Bank.
This trend started emerging from the 1980s as the big banks started a series of acquisitions and mergers that propelled them to the forefront, while a growing number of mortgage loans in the early 2000s’ housing boom solidified their place in the market.
Consumer perception on the “big four”
Despite the oligarchical nature of the market, consumers have shown a high level of satisfaction with the big four. This allows the big four to continue to expand their market share over the years without significant backlash from the public while maintaining the highest brand values in the financial market.
Largest banks in Australia in the financial year 2017, by assets (in billion Australian dollars)
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