The Australian Prudential Regulation Authority (APRA) is a statutory authority of the Australian Government and the prudential regulator of the Australian financial services industry. APRA was established on 1 July 1998 in response to the recommendations of the Wallis Inquiry. APRA's authority and scope is determined pursuant to the Australian Prudential Regulation Authority Act, 1998 (Cth).
Banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, Australia & New Zealand Banking Group and National Australia Bank. There are several smaller banks with a presence throughout the country which includes Bendigo and Adelaide Bank, Suncorp Bank, and a large number of other financial institutions, such as credit unions, building societies and mutual banks, which provide limited banking-type services and are described as authorised deposit-taking institutions (ADIs). Many large foreign banks have a presence, but few have a retail banking presence. The central bank is the Reserve Bank of Australia (RBA). The Australian government’s Financial Claims Scheme guarantees deposits up to $250,000 per account-holder per ADI in the event of the ADI failing.
Great Southern Bank, formerly Credit Union Australia, is one of Australia's largest customer-owned banks with corporate offices in Brisbane, Sydney, and Melbourne. It provided banking services to more than 400,000 Australians in 2023.
Qudos Mutual Limited, trading as Qudos Bank, is an Australian mutual bank that provides retail banking products and services, including home loans, personal loans, car loans, credit cards, savings, financial planning assistance, and foreign exchange.
Heritage and People’s Choice Limited, trading as Heritage Bank, is one of Australia's largest mutual banks. Its head office is in Toowoomba, Queensland.
ME Bank, also known as ME, is an Australian direct bank based in Melbourne. It became a subsidiary of Bank of Queensland in July 2021.
IMB Bank is an Australian mutual bank established in 1880. In 2020, IMB Bank was voted by Forbes as one of the World's Best Banks, and, in 2022, was found by financial services research company Canstar to have Australia's Most Satisfied Customers for both the Bank and Mutual Bank categories.
Bank Australia is an Australian customer-owned bank based in Collingwood, Victoria. The organisation can trace its origins back to 1957, when the CSIRO Co-operative Credit Society was formed. Over succeeding years, mergers among 72 other credit unions and co-operative banks eventually led to the creation of the Members & Education Credit Union (mecu) in 2003, which became Bankmecu in 2011, and Bank Australia in 2015.
Beyond Bank is an Australian customer-owned bank operating in South Australia, Victoria, the Australian Capital Territory, Western Australia and New South Wales. It provides financial services to its members, including savings and business accounts, term deposits, loans, insurance and financial planning, and has total assets under management of more than $5 billion. It is a certified B Corp.
Financial regulation in Australia is extensive and detailed.
Cuscal Limited is an Australian company that provides payments and data to Australian Banks, credit unions, mutual savings banks, corporates and Fintechs.
BankVic is an Australian member-owned mutual bank. It was founded as the Police Association Credit Co Operative, commonly known as Police Credit or Police Credit Co-Op, by police officers in 1974 as a credit union. On 1 June 2013, Police Credit became BankVic. It now serves police and other emergency services employees, people in the health industry and other public servants, as well as their families and friends.
Greater Bank is an Australian customer-owned bank and now a brand of Newcastle Greater Mutual Group, an organisation formed through the merger between Greater Bank and Newcastle Permanent Building Society.
P&N Bank is a division of Police & Nurses Limited and is an Australian customer-owned bank based in Western Australia. Operating under a mutual model, P&N Bank provides retail banking services such as home loans, savings accounts, and insurance services. The bank has a network of branches throughout greater Perth and Bunbury and has a Perth based Contact centre which is open 6 days a week.
Hume Bank is an Australian bank. Headquartered in Albury, New South Wales, it is a customer-owned bank that started as a building society in 1955. Its business focus is on retail banking and assisting local economic development.
Community First Bank is an Australian member or customer-owned community-focused bank established in Sydney in 1959 as Sydney Water Board Officers Credit Union with branches in Sydney and the central coast region
Auswide Bank Ltd, formerly known as Wide Bay Australia, was Australia’s 10th bank listed and trading on the Australian Securities Exchange (ASX).
Regional Australia Bank is a member owned bank with roots in regional New South Wales and head office located in Armidale, Australia.
EML Group is one of the oldest Australian personal injury insurers with history dating back to 1910. The service range of this company is only in Australia, with over 3,500 specialists operating in New South Wales, South Australia and Victoria. The head office of this company is in Sydney. Other branches are distributed in Brisbane in Queensland, Parramatta, Newcastle, Tweed and Gosford in New South Wales, and a South Australian branch in Adelaide.
A$2 billion (2019) [1] 
