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Australia

Basics
Banks
Dodgy Deals
Companies
News
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Banking landscape

The Australian economy has experienced relative stability over the years of the Global Financial Crisis, experiencing continued growth. In addition, its banking sector has remained relatively unscathed, avoiding the bail-outs and busts experienced in many other developed economies. This good fortune has been attributed variously to its strong trading links with China and the strengths of its regulatory structure.

The Australian banking sector is dominated by four major banks: ANZ (Australia and New Zealand Banking Group), Commonwealth Bank, National Australia Bank and Westpac Banking Corporation. The Federal Government has for some years operated an informal "four pillars" policy, which prevents mergers among the Big Four. Macquarie Group, a global investment banking group based in Australia, is vying to become a "fifth pillar" in this system, by diversifying into the mortgage market.

The previous government (under Prime Minister Gillard) committed to "build a new pillar in the banking system" by supporting the mutual sector, including credit unions and building societies, to put more competitive pressure on the big banks. The mutual sector serves approximately 4.5 million members, or 1 in 5 of the total population, according to the Customer-Owned Banking Association. The largest mutuals are CUA (Credit Union Australia) and Heritage Bank, and the oldest is Bankmecu, also Australia's only current member of the Global Alliance for Banking on Values, a network of sustainable banks.

Bank regulation

Australia's regulatory system has been described as a "twin peaks" model, with regulation divided between a prudential regulator (focusing on issues such as the safety of retail deposits) and a market conduct regulator. This is similar to the model operated in the Netherlands and now being introduced in the UK.

The Australian Prudential Regulation Authority (APRA) oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies and most of the superannuation (pension) industry. APRA is funded largely by the industries that it supervises.

The Australian Securities and Investments Commission (ASIC) is Australia's corporate, markets and financial services regulator. As financial services regulator, it has responsibility for licensing and monitoring financial services businesses to ensure that they operate efficiently, honestly and fairly.

The Reserve Bank of Australia (RBA), the central bank, also plays a role in this regime, controlling monetary policy, systemic stability and payments systems.

Independent sustainability and reform initiatives

The consumer watchdog Choice ran a Move your Money campaign in 2011 and 2012 to encourage switching away from the Big Four. In addition, BankTrack member Market Forces has compiled data on banks' lending to Australian coal and gas export ports and their positions on finance for fossil fuels.

Australia

Population: 22,262,501 (July 2013 est.)

GDP: $986.7 billion (ppp - 2012 est.)


working partners
ANZ
The Australia and New Zealand Banking Group Limited commonly called ANZ, is the fourth largest bank in Australia, after the Commonwealth Bank,…
Commonwealth Bank
Commonly referred to as the Commbank, the Commonwealth Bank of Australia was founded in 1911 by the Australian government, listed on the Australian Stock Exchange in 1991,…
Macquarie
Macquarie Group Limited is a global investment banking and diversified financial services group, providing banking, financial, advisory, investment and funds management services…
NAB
The National Australia Bank Group is one of the four biggest banks of Australia. It was founded in 1982 as the National Commercial Banking Corporation of Australia Limited.…
State Bank of India
State Bank of India (SBI) is the largest bank of India. The bank was founded in 1806 as the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent.…
Suncorp
Suncorp Bank was founded as the Queensland Agricultural Bank in 1902. Suncorp Bank is Australia's leading regional bank and part of the Suncorp Group. Suncorp Group includes…
Westpac
Westpac is an Australian bank with a strategic focus on Australia, New Zealand and the near Pacific. The Westpac Group provides a broad range of banking and financial services,…

Australia

Population: 22,262,501 (July 2013 est.)

GDP: $986.7 billion (ppp - 2012 est.)


working partners
Dodgy Deals located in Australia
Alpha Coal project
Australia
co financed by ANZ, Macquarie bank
The Alpha Coal project is a AUD6 billion coal mine and export project that is proposed to be constructed in Queensland, Australia. The black thermal coal mine and associated…
Great Barrier Reef Coal & Gas Exports
Australia
co financed by ANZ, Commonwealth Bank of Australia, Export Finance and Insurance Corporation (EFIC), National Australia Bank, Westpac Banking Corporation
Australia is on the verge of an unprecedented coal boom. The epicentre of this expansion is the yet-to-be-developed Galilee Basin in Central Queensland. Galilee is the proposed…
Hazelwood coal fired-power station
Australia
co financed by ANZ, Commonwealth Bank of Australia, Westpac Banking Corporation
Hazelwood power station and mine are located in Victoria's Latrobe Valley, 150 km east of Melbourne in Australia. The 1,542 megawatt brown coal-fired power station is supplied…
HRL/Dual Gas coal power plant
Australia
co financed by ANZ, Government of Australia
The HRL group of companies through subsidiary "Dual Gas" proposes to build a 600 Megawatt brown coal (lignite) power plant using Integrated Drying Gasification and Combined…
Maules Creek coal mine
Australia
co financed by ANZ, Commonwealth Bank of Australia, Macquarie bank, National Australia Bank, Westpac Banking Corporation
Whitehaven Coal's Maules Creek mine is a part thermal, part semi soft coking coal mine being developed in the Gunnedah Basin in Northern New South Wales. It would produce…
Carmichael coal mine project
Australia
co financed by Commonwealth Bank of Australia
Carmichael - located in Queensland's unexploited Galilee Basin and proposed by Indian conglomerate Adani - would take the crown of Australia's biggest and baddest coal mine…
Offshore Detention Centres
Australia
Australia's system of privatised, offshore detention centres (ODCs) for asylum seekers, on remote Pacific islands, is an ongoing human rights catastrophe. Spanish company…
check dodgy deals on record
Dodgy Deals abroad financed by banks from Australia
Bauxite mine Niyamgiri Hills
India
co financed by ANZ, Macquarie bank
On October 5th, 2004 an official agreement was signed between the Orissa Mining Corporation (OMC) and Sterlite Industries, a subsidiary of Vedanta Resources plc, for the…
Mountain top removal coal mining
United States
co financed by Commonwealth Bank of Australia
Mountain top removal (MTR) mining is a form of strip mining in which coal companies use explosives to blast as much as 800 to 1,000 feet off the tops of mountains order to…
Rosemont Copper Mine
United States
co financed by Commonwealth Bank of Australia
Vancouver-based speculative mining company, Augusta Resource Corporation, and its Arizona subsidiary, Rosemont Copper Company, plan to blast a mile-wide, half-mile deep…
Sasan ultra mega coal power project (UMPP)
India
co financed by
The Sasan project, also known as the Sasan Ultra Mega Power Project (UMPP), is a 3,960 megawatt (6x660 megawatt) coal-fired project, located in Sasan, Madhya Pradesh in India.…
Tata Mundra Ultra Mega Power Plant (UMPP)
India
co financed by
The first of 16 Ultra Mega Power Projects (UMPPs) to be commissioned in India, the Tata Mundra UMPP is located in Tunda village at Mundra, in the Kutch district in Gujarat.…
check dodgy deals on record

Australia

Population: 22,262,501 (July 2013 est.)

GDP: $986.7 billion (ppp - 2012 est.)


working partners
Companies located in Australia
BHP Billiton
Australia
co financed by ANZ, Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation
BHP Billiton is the world's largest mining company. It occupies significant positions in major commodity businesses, including aluminium, energy coal and metallurgical coal,…
Rio Tinto
Australia
co financed by ANZ, Commonwealth Bank of Australia, Macquarie bank, National Australia Bank, Westpac Banking Corporation
Rio Tinto is a mining and exploration company involved in each stage of metal and mineral production and processing. Rio Tinto is one of the largest publicly listed mining…
Coal of Africa
Australia
co financed by Macquarie bank
Coal of Africa Limited (CoAL) is an Australian based mining company which operates mines in South Africa. In 2012 it produced around 3.4 million metric tons of coal.
Companies abroad financed by banks from Australia
Anglo American
United Kingdom
co financed by ANZ, National Australia Bank, Westpac Banking Corporation
Anglo American is a British multinational mining company headquartered in London, United Kingdom. It is the world's largest producer of platinum, with around 40% of world…
EDF
France
co financed by ANZ, Commonwealth Bank of Australia
Like its rival and fellow French multinational AREVA, Électricité de France (EDF) is one of the biggest players in the global energy game. In fact, with more…
ENGIE
France
co financed by ANZ
ENGIE (known as GDF SUEZ until April 2015) is the largest independent power producer in the world. In 2013 it operated 600 power plants worldwide. It had 113.7 GW of installed…
Glencore
Switzerland
co financed by ANZ, Commonwealth Bank of Australia, Macquarie bank, National Australia Bank
Glencore plc (formerly Glencore Xstrata) is an Anglo-Swiss multinational commodity trading and mining company. The company was created through a merger of Glencore with Xstrata…
Jindal Steel & Power
India
co financed by ANZ, Westpac Banking Corporation
Jindal Steel and Power Limited (JSPL) is one of India's major steel producers with a significant presence in sectors like mining, power generation and infrastructure. It…
Lockheed Martin
United States
co financed by ANZ
Lockheed Martin is one of the worlds largest arms-producing and military services companies. It is a global security company engaged in the research, design, development,…
Samling
Hong Kong
co financed by ANZ, Macquarie bank
The Samling group, which is based in the Malaysian state of Sarawak on Borneo, is one of Malaysia's biggest logging companies and responsible for the ongoing destruction…
Wilmar Group
Singapore
co financed by ANZ, Commonwealth Bank of Australia, National Australia Bank
Wilmar International (WLIL.SI), founded in 1991 and headquartered in Singapore is one of the world's largest agribusinesses. It is involved in a wide range of businesses,…
Adani
India
co financed by Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation
Adani is a large Indian resources, logistics and energy company with big expansion plans. It was founded by Indian billionaire Gautam Adani, in 1988. It has coal mining interests…
Coal India
India
co financed by
Coal India is the biggest coal producer worldwide, majority-owned by the government of India. It was created in the 1970's when India's coal mining industry was nationalised…
National Thermal Power Corporation (NTPC)
India
co financed by
National Thermal Power Corporation is the largest electricity producer in India. In 2014, its total installed capacity was of 42,964 MW (including 5,974 MW through Joint…
Areva
France
co financed by Westpac Banking Corporation
Created in 2001 and 90% owned by the French state, this multinational conglomerate boasts of interests in every aspect of nuclear power from uranium mining to nuclear fuel…
check company profiles on record

Australia

Population: 22,262,501 (July 2013 est.)

GDP: $986.7 billion (ppp - 2012 est.)


working partners
2015 2014 2013 2010

Australia

Population: 22,262,501 (July 2013 est.)

GDP: $986.7 billion (ppp - 2012 est.)


working partners

Australia

Population: 22,262,501 (July 2013 est.)

GDP: $986.7 billion (ppp - 2012 est.)


working partners
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