The following is the list of banks in Australia, as well as restricted ADIs,^[1] credit unions, friendly societies and subsidiaries and branches of foreign banks in Australia. Financial institutions in Australia are supervised by the Australian Prudential Regulation Authority (APRA) as authorised deposit-taking institutions (ADI) under the Banking Act 1959 (Cth), as at 2 August 2017.^[2]

Central bank

The Reserve Bank of Australia (RBA) is Australia's central bank and banknote issuing authority. It has had this role since 14 January 1960, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank.^[3] The bank's main policy role is to control inflation levels within a target range of 2–3%, by controlling the unemployment rate according to the 'non-accelerating inflation rate of unemployment' (NAIRU) by controlling the official cash rate.

Australian-owned ADIs (e.g. banks and building societies)

The following is a list of authorised deposit-taking institutions.^[4]

Restricted ADIs (Restricted Authorised Deposit-taking Institutions)

Restricted ADIs are newly licensed ADIs within Australia.^[17] Restricted ADIs have the same obligations as full ADIs, but are restricted to only taking a total of $2 million of customer deposits during their restricted period. To protect these deposits, Restricted ADIs are required to hold a minimum of $3 million of prudential capital, as well as a $1 million resolution reserve to resolving any legal matters (or government costs for invoking the Financial Claims Scheme).^[18]

Restricted ADIs have a two-year period to transition to being an unrestricted ADI (e.g. a full bank). This two-year period is designed to allow Restricted ADIs to build their systems and test them with a limited number of customers (less than 100). Once ready, the Restricted ADI can apply to APRA for the removal of restrictions, with the ADI then allowed to offer services to the general public.^[17]

The following is a list of restricted ADIs.^[19]

Credit Unions

Australian friendly societies

Foreign-owned subsidiary banks

Foreign banks wishing to carry on a banking business in Australia must obtain a banking authority under the Banking Act 1959 issued by APRA, either to operate as a wholesale bank through an Australian branch or to conduct business through an Australian-incorporated subsidiary. Foreign banks which do not wish to obtain a banking authority may operate a representative office for liaison purposes, but the activities of that office are restricted.^[21]

There are a number of foreign subsidiary banks; however, only a few have a retail banking presence — HSBC Bank Australia, Bank of Sydney and Citibank Australia have a small number of branches. Foreign banks have a more significant presence in the Australian merchant banking sector.

Branches of foreign banks

• ABN AMRO
• Bank of America
• Bank of Baroda
• Bank of China
• Bank of Communications
• Barclays Capital (the trading name of Barclays)
• BNP Paribas
• China Construction Bank Corporation
• China Everbright Bank
• Credit Suisse
• DBS Bank
• Deutsche Bank
• HBOS Treasury Services
• HSBC
• ING Bank
• JPMorgan Chase
• Mega International Commercial Bank
• Mizuho Corporate Bank
• MUFG Bank
• National Bank of Greece
• Northern Trust
• Oversea-Chinese Banking Corporation
• Rabobank
• Royal Bank of Canada
• Société Générale
• Standard Chartered Bank
• State Bank of India
• State Street Bank & Trust Company
• Sumitomo Mitsui Banking Corporation
• Royal Bank of Scotland
• Taishin International Bank
• Taiwan Business Bank
• Taiwan Cooperative Bank
• UBS
• Union Bank of India
• United Overseas Bank
• Woori Bank