Best international banks with branches in Perth, Melbourne, Brisbane, Sydney Australia
Just like many other countries, there are several types of banks in Australia, all of them supervised by the Australian Prudential Regulation Authority – known as APRA – and considered authorized deposit-taking institutions. Best banks in Australia for expats, international students, tourists, backpackers. Open bank account in Australia.
Besides the Reserve Bank of Australia, the country’s central bank, the ‘market’ is dominated by Australian-owned banks and building societies, credit unions – in increasing numbers – as well as Friendly Societies. Last but not least, there’s one additional category: foreign-owned subsidiary banks.
These banks were allowed to operate here after obtaining a banking authority under the Banking Act, issued by the above-mentioned institution, APRA. They operate either as wholesale banks, through an Australian branch, or conduct their business through an Australian-incorporated subsidiary.
There are situations in which foreign banks do not require a banking authority, so they can operate through a representative office for liaison purposes. However, there’s a limited number of activities they can conduct.
Currently, there are a few foreign banks in Australia, some of them having a retail banking presence. Also, it’s worth mentioning that foreign banks have a significant increase in presence in the Australian merchant banking sector.
Below you will find a complete list with all the foreign banks currently operating in Australia:
• Arab Bank Australia Limited, with its headquarters in Sydney
• Bank of China (Australia) Limited, with its headquarters in Sydney
• Bank of Sydney Ltd, a subsidiary of Bank of Beirut, with its headquarters in Sydney
• Citibank Australia, with its headquarters in Sydney
• HSBC Bank Australia, with its headquarters in Sydney
• ING Bank (Australia), a subsidiary of the ING Group from the Netherlands, with its headquarters in Sydney
• Rabobank Australia Limited, a subsidiary of Rabobank Nederland, starting with October 1994, with its headquarters in Sydney
Besides these, you can also check the complete list with all the branches of foreign banks from Australia:
• ABN AMRO Bank N.V.
• Bank of America, National Association
• Bank of Baroda
• Bank of China Limited
• Barclays Capital (the trading name of Barclays Bank plc)
• BNP Paribas
• China Construction Bank Corporation
• Credit Suisse
• Deutsche Bank AG
• HBOS Treasury Services plc
• HSBC Bank Plc
• ING Bank NV
• JPMorgan Chase Bank, National Association
• Mega International Commercial Bank Co., Ltd.
• Mizuho Corporate Bank, Ltd
• National Bank of Greece
• Oversea-Chinese Banking Corporation Limited
• Rabobank Nederland (the trading name of Co-operative Central Raiffeisen-Boerenleenbank B.A.)
• Royal Bank of Canada
• Société Générale
• Standard Chartered Bank
• State Bank of India
• State Street Bank and Trust Company (SSBATC)
• Sumitomo Mitsui Banking Corporation
• The Bank of Tokyo-Mitsubishi UFJ, Ltd
• The Hongkong and Shanghai Banking Corporation Limited
• The Northern Trust Company
• The Royal Bank of Scotland Plc
• Taishin International Bank
• Taiwan Business Bank
• UBS AG
• Union Bank of India
• United Overseas Bank Limited
• Woori Bank
Hopefully, we managed to cover all foreign banks in Australia with our lists and this will come in handy for anybody needing it. If we skipped anything, feel free to tell us the name(s), by dropping a few lines in the comments section below.