Competition in the Australian Banking Industry Essay

3452 WordsJun 3, 201314 Pages
Competition in the Australian Banking Industry (2006-2012) Table of Contents Title Page ---------------------------------------------------------------------- 1 Table of Contents -------------------------------------------------------------2 Executive Summary ----------------------------------------------------------4 1. Introduction-----------------------------------------------------------------5 1.1 Australian Banking Industry 1.1.1 Major Banks / Four Pillars 1.1.2 Regional Banks, Credit Unions & Building Societies 1.1.3 Foreign Banks 1.2 Competition in the Australian Banking Industry 2. Performance Indicators ---------------------------------------------------8…show more content…
Some of the regional banks are Bendigo and Adelaide Bank, Suncorp-Metway Bank of Queensland and ME Bank. 1.1.3 Foreign Banks Foreign banks that wish to carry on banking business in Australia must obtain a banking authority issued by APRA under the Banking Act- either to operate as a wholesale bank through an Australian branch or to conduct business through an Australian-incorporated subsidiary. (Australian Bankers’ Association, 2011) The foreign banks used in this report are Arab Bank Australia Limited, BA Australia Ltd, Bank of China (Australia) Ltd, Beirut Hellenic Bank Ltd, BNP Pacific (Australia) Limited, BOS International (Australia) Ltd, Citigroup Pty Limited, Credit Suisse Equities (Australia) Limited, Deutsche Australia Ltd, HSBC Bank Australia Limited, ING Bank (Australia) Limited, Investec Bank (Australia) Limited, JP Morgan Securities Australia Limited, Rabobank Australia Limited, RBS Group (Australia ) Pty Limited, Sumitomo Mitsui Finance Australia Ltd., UBS(Sydney) Ltd, UBS Australia Limited, UBS Private Clients Australia Ltd, and UBS Securities Australia Ltd. Foreign banks that do not wish to obtain a banking authority in Australia may operate a representative office in Australia for liaison purposes, but the activities of that office will be restricted. According to the Foreign Investment Review Board, foreign investment in the Australian
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