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Analyze Of The Banking Sector In Australia

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Discuss about the Analyze The Past Present And Future Of The Banking Sector In Australia.



The first bank was opened in Australia in the early nineteenth century. After that with the large scale advancement in the technology most of the operations are now managed on the basis of the technical line. At present there are top four banks in Australia that are formed on the principle of four pillar policy as per which thee banks are not allowed to merge with each other in any ways. They can merge with other small banks and institutions and can acquire them but they cannot merge with one another. This is done to keep the overall banking business stable and free from all kind of discrepancies. The overall importance of these banks has risen from the past years. They are not only meant to provide basic banking services like lending of money and depositing of money but they provide many ancillary services like asset management, fund management (Kohtamäki, 2017). These services help in the growth of the individuals and of the companies. There are many rules and regulations that have been set to regulate the actions of these banks. None of these banks are held by the government but they need to follow the guidelines that have been issued by the law framing bodies. The banking sector today is very strong and it contributes to more than half of the total assets, this shows that the banking business have grown so much over the years. Today there are 53 banks that are operating in Australia. Out of these banks 14 are such banks that are held by Australian, few are foreign owned banks and few are regional banks. The banking regulations have been set up by a body that is known as Australian Prudential Regulation Authority (APRA). These banks affect the overall economy in several ways. The overall analysis of these banks, their past present and future is discussed in the reports given below.



The first bank was set up hundred decade’s ago. Since then the overall growth has been phenomenal. A large number of colonial banks failed during the great depression era that was during the Victorian era. This was a huge downfall for the overall banking sector. In 1901, a new legislation was framed to protect these banks, to supervise them and manage their overall operations. After the end of the Second World War the banking business was taken seriously and new rules were framed them to judge the overall functioning of these banks. The government was restricted from holding the authority of nay of these banks. People were of the opinion that if the government had the power than it might try to control the economy. The four pillar policy was framed as per which the top four banks which were Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia, National Australia Bank Limited and Westpac Banking Corporation were not allowed to merge with each other. This was done to maintain stability in the banking sector and make sure that the system was functioning smoothly. With changes in the world scenarios; deregulation became the order of the day. The banking sector was affected by the great depression in the 1990, during which the overall demand for home loan banking facility had reduced terribly. But after the phase of depression got over, there has been huge growth since then. The net growth in the overall balance sheet of the banking companies has been 13 percent from the past decades. They contribute to half of the funds of the economy and there are many foreign owned banks that continuously invest in funds to keep the system going. The growth in visible in the strong market position that these banks are holding today (Yates, 2017).

Since 1990, there has been a lot development. Many technological changes were introduced that had changed the face of banking industry. The automatic teller machines and other equipments were introduced to make the overall process of banking easy to operate and had reduced a lot of manual labor. Deregulation that had occurred in 1960, had affected the system in positive way as many credit unions and budding societies to become banks without going into mutation. The government party was scrapped of all its power and the last government owned bank was sold  in 2011. Since then there has been huge growth, the technology has seamlessly been infused in the banking business. This is very well reflected by the current position of the banking companies and the steps they took to achieve the same.      



The top four banks that are like the top pillar of the banking business, dominates the overall banking sector of Australia. They are not allowed to merge with each other, but have indulged in large scale acquisition of many small banks and foreign banks that have helped in their growth. These banks collectively hold the world rank of 80, in the banking sector and in relation to their market share they hold a rank of 50. Their contribution is 100 percent to the total GDP of the country and the total assets that they have in their books collectively is equivalent to $960billion. Their after pretax profit is 21 percent and they have been extremely profitable over the years (Trieu, 2017). They provide large number of services apart from the normal banking services like depositing and lending. The help in asset management, fund management and insurance and also contributes to the GDP of the country. Apart from these top banks, there are few other banks also that are mostly dominant in the retail sector these are known as regional banks. They also contribute to the overall economy of around 8 percent. Apart from these there are few foreign owned banks also that provide around 20 percent contribution to the total economy. Previously the main focus of these banks was ale of services but since the time has changed they are focusing on providing quality services to the customers. They have introduced many high interests paying deposit scheme that has attracted a lot of customers. The largest owned foreign banks make a contribution of around 2.5 percent to the total economy and are also the eight largest domestic banks in Australia. They provide many other services than the basic service of fund management and asset management. They help in making the overall banking system very strong and reliable (Mayntz, 2017).

Now if we analyse the future of the banking system in Australia, there are chances that several changes may occur that might change the overall face of baking. Few of these changes that the banks must bring in their system are –

  • To bring in the cultural aspect in their work, so that more customers are attracted
  • To bring in more innovation and development, this will help in making the overall process more easy and simple.
  • To optimize the overall value chain analysis so that it will help in management of the resources and also help the people who are involved there in.
  • To make sure that the overall customer management system is more effective and there are fewer errors in the same. This will help in improving the overall customer satisfaction and will attract more consumers.

All these changes will help in making the banking business more strong. The banks that are able to introduce these changes will be successful. These changes are required to remove the bugs from the system and make the overall system free from all kind of issues. It will be helpful to the company as well to the customers (Dowding, 2017). It is important for the companies to survive the transitional phase from the traditional banking to the new technologically advanced one. It is important that new innovations and developments take place every now and then. It is important that the companies are able to effectively introduce them in their system. It is important that the companies are able to escape the trap of commercialization and do not fall in it, as it will destroy the quality of work (Bakir, 2017). Banking business is a people based business, the main aim of the companies should be to serve quality services to the consumers and do not commercialize them. This will destroy the authenticity of the work and also make it less functional. As of now what we see is that the banking sector is a growing economy and new changes are taking place every now and than and that will make the business strong.



Over the entire analysis it can be said that the main work of these banks is to make sure that they do not commercialize their operations. If they commercialise their operations then the banking business losses its essence. This will destroy the customer faith in the banks. Hence it is very important that the main aim of the bansk must be to provide quality assistance to the people who are having their faith on them. They must try to escape the trap of commercialization and provide good and quality services to the consumers. This will help them in growing in the long run (Arnott, Lizama, & Song, 2017). They must also try to make sure that more and more technological innovations are introduced that might help them in reducing the overall cost and remove all the bugs from the system. In any case if they feel they can also take expert advice that can help them in the same. It is also very important that there is simplification of the entire system so that people are able to use it easily. Complex methods make it very difficult to operate and people who are not that much educated find it very hard to understand these banking services and make use of the same in their daily lives.The government must make sure that the overall rules and regulations are not that tough, and people who are a part of the economy can be benefited from the same (Anginer & Kunt, 2014). The companies should also try to function in union and should try to generate more foreign investment so that it might help in the overall development of the banking business and make it stronger.Unity is very important as the banking business in Australia is framed on the rule of the four pillar policy. So these pillars must stand together.



After the overall analysis it can be said that there has been huge growth in the banking sector from the 19th century till today. The banking industry is still growing and there are so many changes that are occurring every day. The banking industry is defined by the technology that is uses in making the overall experience of the consumers peacefully so that must be kept in mind and the new steps must be taken. The banks are able to operate independently without any intervention of the government. In the long run it would be of great benefit and also the government must see to it that the new methods or the new rules that it frames are easy for the company (Adapa & Roy, 2017). The government must also see to it that there is more growth of the domestic banks than the foreign owned banks. This will help in the development of the overall economy and the future of the banking business is overall bright.



Adapa, S., & Roy, S. (2017). Consumers’ post-adoption behaviour towards Internet banking: empirical evidence from Australia. Behaviour & Informtaion Technology, 36(9), 970-983.

Anginer, D., & Kunt, A. (2014). Has the global banking system become more fragile over time? Journal of Financial Stability, 13, 202-213.

Arnott, D., Lizama, F., & Song, Y. (2017). Patterns of business intelligence systems use in organizations. Decision Support Systems, 97, 58-68.

Bakir, c. (2017). How do mega-bank merger policy and regulations contribute to financial stability? Evidence from Australia and Canada. Journal of Economic Policy Reform, 1-15.

Dowding, K. (2017). Australian exceptionalism reconsidered. Australian journal of Political Science, 52(2), 165-182.

Kohtamäki, M. (2017). Real-time Strategy and Business Intelligence: Digitizing Practices and Systems. Finland: Palgrave Macmillan.

Mayntz, R. (2017). Networked Governance. Springer.

Trieu, V. (2017). Getting value from Business Intelligence systems: A review and research agenda. Decision Support Systems, 93, 111-124.

Yates, J. (2017). Protecting housing and mortgage markets in times of crisis: a view from Australia. Journal of Housing and the Built Environment, 29(2), 361-382.


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