In short: Among the top Australian banks, Commonwealth Bank, ANZ, NAB and Westpac make up the "Big Four," and one well-known regional name, Suncorp Bank, changed owners in 2024 when ANZ completed its acquisition of it. (Last updated 2026-08-18.)

Key Takeaways

• Among the top Australian banks by customers, Commonwealth Bank of Australia (CBA) reported more than 18 million in its FY2025 Annual Report.
• ANZ completed its acquisition of Suncorp Bank on 31 July 2024; Suncorp Bank is no longer part of Suncorp Group.
• NAB was formed on 1 October 1981 and reports more than 8.5 million customers and more than 38,000 employees globally, per its own "About us" page.
• Westpac, established in 1817, reports around 13 million customers and about 35,000 employees in its FY2025 disclosures.
• ANZ sold its life insurance and pensions/investment businesses to Zurich and IOOF between 2018 and 2020 and no longer provides those products directly.

This list of the top Australian banks covers four large institutions plus a group of smaller regional and specialist banks, and ownership at that second tier has shifted meaningfully in the last two years. This guide checks each bank's history, scale and current ownership against its own official pages or regulatory filings, not against what was true when this article was first written.

Which Banks Make Up Australia's "Big Four"?

Commonwealth Bank (CBA), ANZ, National Australia Bank (NAB) and Westpac are commonly referred to as Australia's "Big Four," the country's four largest banking groups.

Commonwealth Bank of Australia (CBA)

Commonwealth Bank of Australia was established in 1911 and is headquartered in Sydney. CBA's FY2025 Annual Report states it serves more than 18 million customers. Its retail subsidiary Bankwest completed a move to fully digital banking, closing its remaining Western Australian branches, by the end of 2024, per CBA's own newsroom.

Australia and New Zealand Banking Group (ANZ)

ANZ traces its history to the Bank of Australasia, founded in 1835. Today it operates in close to 30 markets, including more than 10 across Asia, according to its own "About us" page — not the 34 markets sometimes still quoted. ANZ sold its OnePath life insurance business to Zurich and its OnePath pensions and investments business to IOOF in transactions agreed in 2018 and completed by 2020, as part of exiting wealth manufacturing, so it no longer directly provides insurance, investment or superannuation products under its own brand. On 31 July 2024, ANZ completed its acquisition of Suncorp Bank (see the dedicated section below).

National Australia Bank (NAB)

NAB's own "About us" page dates its formation to 1 October 1981, when the National Bank of Australasia (founded 1858) merged with the Commercial Banking Company of Sydney (founded 1834); the merged group was renamed National Australia Bank Limited in 1982. NAB reports more than 8.5 million customers and more than 38,000 employees globally on that same page.

Westpac

Westpac was established in 1817 as the Bank of New South Wales, making it Australia's oldest bank. Its FY2025 disclosures report around 13 million customers and about 35,000 employees, organised into six reporting segments: Consumer, Business, Westpac Institutional Bank, Westpac New Zealand, Specialist Businesses and Group Businesses. Westpac's Specialist Businesses segment covers operations the bank has agreed to exit, including its life insurance business.

What Happened to Suncorp Bank?

ANZ completed its acquisition of Suncorp Bank on 31 July 2024, and Suncorp Bank is no longer part of the ASX-listed Suncorp Group.

Suncorp Bank traces its origins to the Queensland Agricultural Bank, established in 1902, and became part of the modern Suncorp Group formed by a 1996 merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation. That changed in 2024: Suncorp Bank's own legal page now states it "is not part of the Suncorp Group" and that "the SUNCORP brand and Sun Logo are used by Suncorp Bank (Norfina Limited) under licence" from Suncorp Group. ANZ's acquisition brought across about 1.2 million Suncorp Bank customers, roughly 3,000 employees and $54.6 billion of deposits, and ANZ has said Suncorp Bank customers will keep using Suncorp Bank's own systems and branding for now, with a technology migration onto ANZ's platform planned by June 2027.

This is a live example of how quickly ownership in Australian banking can change, and a reminder to confirm current ownership before relying on an older summary.

Which Other Australian Banks Should New Arrivals Know?

Bank of Queensland, Macquarie and Bendigo and Adelaide Bank are the next most commonly cited Australian banks after the Big Four and Suncorp Bank.

Bank of Queensland (BOQ)

Bank of Queensland traces its history to the Brisbane Permanent Benefit Building and Investment Society, established in 1874, and is now headquartered in Newstead, Brisbane. Its Retail Bank division supported 1.3 million customers as of its FY2025 half-year results, and BOQ finished converting its remaining owner-managed branches to corporate-owned branches by 1 March 2025.

Macquarie

Macquarie Group was founded in Sydney in 1969 and today operates across roughly 30 markets, per its own website. Its APRA-regulated banking subsidiary, Macquarie Bank Limited, is the entity that holds customer deposits and sits under the government's deposit guarantee; the wider, ASX-listed Macquarie Group also runs asset management, wealth management, and advisory businesses alongside that banking arm.

Bendigo and Adelaide Bank

Bendigo and Adelaide Bank was formed on 30 November 2007 through the merger of Bendigo Bank and Adelaide Bank, and was renamed Bendigo and Adelaide Bank Limited in March 2008, per Bendigo Bank's own announcement of the merger. It is known for its Community Bank model, under which a share of profits from participating branches is returned to the local community that generated them.

How Do These Banks Compare at a Glance?

Founding date, headquarters and current ownership are the details most likely to be out of date in an older summary of Australian banks.

Figures checked 2026-08-18 against each bank's own site or public filings; see the sources linked above and in the FAQ.

Sending Money To and From Your New Australian Account

Opening an Australian bank account and sending money internationally are two separate services, and fees and delivery times for the second vary by provider. EzyRemit publishes its current transfer rates and fees at ezyremit.com, and a comparison of international money transfer services sets out how different providers structure their fees.

If Vietnam is also part of your banking picture, our guides on how to transfer money to Vietnam, the checklist before sending money to Vietnam, and the best banks in Vietnam for foreigners cover the other side of that corridor.

FAQ: Top Australian Banks

What are Australia's Big Four banks?

Australia's Big Four banks are Commonwealth Bank (CBA), ANZ, National Australia Bank (NAB) and Westpac, the country's four largest banking groups by customer base and market presence.

Who owns Suncorp Bank now?

ANZ owns Suncorp Bank. ANZ completed its acquisition of Suncorp Bank on 31 July 2024, and Suncorp Bank's own website confirms it is no longer part of the Suncorp Group, though it still uses the Suncorp brand under licence.

Is ANZ still involved in insurance and superannuation?

No, not directly. ANZ sold its OnePath life insurance business to Zurich and its OnePath pensions and investments business to IOOF in transactions agreed in 2018 and completed by 2020, exiting wealth manufacturing.

How many customers does Commonwealth Bank have?

Commonwealth Bank of Australia reported more than 18 million customers in its FY2025 Annual Report, making it the largest bank in Australia by that measure.

What is the Community Bank model at Bendigo and Adelaide Bank?

Bendigo and Adelaide Bank's Community Bank model returns a share of profits from participating branches to the local community that generated them, a structure the bank has used since before its 2007 merger.

The information in this article is general and factual only. It does not take your personal circumstances into account and is not financial product advice. Fees and terms cited were checked on 2026-08-18 and change over time; always confirm current details before you transact.

Entering your legal name into a global form might seem like the simplest part of sending funds abroad. However, this seemingly trivial step is often the primary reason international transactions get flagged. While many expats and international students worry about diacritics or spelling errors, the real grey area that causes the most significant delays is the structural mismatch of middle names.

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The Cost of Structural Mismatches

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How to Navigate Global Naming Protocols

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If Vietnam is your transfer corridor, our guide on how to easily transfer money to Vietnam walks through providers and steps in more detail.