What are the top 10 biggest banks in Australia?

ELLIE MCLACHLAN
New banking data reveals the winners and losers when it comes to where Aussies are stashing their cash and getting home loans. Digital bank 86 400 saw the biggest decline in home lending between March and June, but it earned a spot among the most popular banks households chose to store their savings.
Biggest banks Australia
Canstar crunches APRA’s latest figures on home lending and deposits. Image: pada smith/Shutterstock.com.

The Australian Prudential Regulation Authority (APRA) released the latest lending and deposit data on authorised deposit-taking institutions (ADIs) on Friday. ADIs are those financial institutions where customers’ money is protected by a government guarantee up to amounts of $250,000.

Canstar analysis of the data between March and June 2021 shows digital bank 86 400 had the biggest percentage loss in the value of owner-occupier home loans over that period, decreasing by 19.2% to $201.1 million. The next largest loss was Australia Military Bank, down 4.82% to $960.3 million.

Though 86 400 was down in lending value, it was among the top performers for household deposits during the same period.

In fact, newer challenger banks were among some of the top performers for deposits held during the period analysed. BNK Bank had the biggest percentage increase, up 37.65% to $242.4 million, followed by challenger Judo Bank (+26.65%), Horizon Bank (+23.85%) and 86 400 (+10.99%).

Looking at the major banks, Canstar finance expert Steve Mickenbecker said the growth of the big four lagged behind other ADIs for both owner-occupier and investment loans, with investment lending up only 0.41% compared to 2.97% for other banks.

“The smaller ADIs are now starting to flex their muscles in the investment space,” Mr Mickenbecker said. “Investment lending continues to outgrow the owner-occupier market in recent months and the smaller ADIs will have realised they need to carve out their share of this market if they are to continue to maintain a healthy growth health rate.”

ANZ was the only big four bank to see a decline in the value of owner-occupier loans between March and June (-0.12%).

Commonwealth Bank was the only major to see an increase in investment lending to households (+2.01%) and NAB was the only one to see a decline in the value of deposits held (-0.15%).

Of note, Macquarie Bank’s ambitious journey to chip away a share of the big four’s lucrative household lending market was reflected in the figures.

“While Macquarie Bank is significantly smaller than the big four, it remains the number five home lender in the country and is fast outperforming the banks ahead of it, growing its owner-occupier book by 7.24% compared to 2.48% among the big four,” Mr Mickenbecker said.

Below we break down the biggest ADIs, according to the latest APRA data on lending and deposits.

Top 10 biggest banks by size of home lending to owner-occupiers

Institution Value (billion)
Commonwealth Bank $320.33
Westpac $241.39
ANZ $175.35
NAB $167.64
ING Bank $43.80
Macquarie Bank $39.50
Bendigo and Adelaide Bank $35.73
Suncorp Bank $30.59
BOQ $18.88
HSBC $16.58

Source: www.canstar.com.au – 30 July 2021. Based on APRA Monthly Authorised Deposit-taking Institution Statistics. Values based on ADIs domestic books, at the end of the month.

Top 10 biggest banks by size of home lending to investors

Institution Value (billion)
Westpac $176.57
Commonwealth Bank $163.29
NAB $100.10
ANZ $87.44
Macquarie Bank $28.07
Bendigo and Adelaide Bank $15.96
Suncorp Bank $12.06
BOQ $11.80
ING Bank $8.36
HSBC $6.64

Source: www.canstar.com.au – 30 July 2021. Based on APRA Monthly Authorised Deposit-taking Institution Statistics. Values based on ADIs domestic books, at the end of the month.

Top 10 biggest banks by size of deposits held

Institution Value (billion)
Commonwealth Bank $309.93
Westpac $235.07
NAB $149.44
ANZ $141.43
ING Bank $39.68
Bendigo and Adelaide Bank $35.71
Suncorp Bank $28.58
Macquarie Bank $24.03
BOQ $17.32
HSBC $12.59

Source: www.canstar.com.au – 30 July 2021. Based on APRA Monthly Authorised Deposit-taking Institution Statistics. Values based on ADIs domestic books, at the end of the month.


Thanks for visiting Canstar, Australia’s biggest financial comparison site*