5 Major Banks In Australia

5th Biggest Bank In Australia

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The Australian banking sector is one of the most concentrated in the world, with the four major banks (Commonwealth Bank, Westpac, National Australia Bank, and ANZ) controlling over 80% of the market.

However, there are a number of smaller banks that are also operating in Australia, and some of these banks are growing rapidly.

Which is the 5th biggest bank in Australia?

As of October 2023, the 5th biggest bank in Australia is Macquarie Bank. Macquarie Bank is a diversified financial services company that provides a range of services, including investment banking, asset management, and commercial banking.

Macquarie Bank is the largest investment bank in Australia, and it is also one of the largest asset managers in the country.

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The bank has over $700 billion in assets under management, and it employs over 17,000 people worldwide.

How is Macquarie Bank different from the four major banks?

Macquarie Bank is different from the four major banks in a number of ways. First, Macquarie Bank is a more specialized bank.

It focuses on investment banking, asset management, and commercial banking, while the four major banks offer a wider range of retail banking products and services.

Second, Macquarie Bank is more internationally focused than the four major banks. Macquarie Bank has operations in over 30 countries around the world, while the four major banks are primarily focused on the Australian and New Zealand markets.

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