Who owns my bank?

Your bank could be owned by another, larger bank. Check who owns your bank here, and what impact this has on your money.

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Alison Banney

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Key takeaways

  • Many smaller banks, credit unions and building societies are actually owned by bigger banks - particularly the Big Four.
  • If you're with a smaller bank, it may be nice to know they've got the financial backing of a big bank.
  • The owner of your bank is unlikely to impact your daily banking, but it's good to be aware of.

At a glance: Who owns my bank?

BankBank brands
WestpacSt.George, Bank SA, Bank of Melbourne, RAMS
NABUbank
ANZSuncorp Bank
CommBankBankwest, Aussie (part owner), Lendi Group (part owner)
Bendigo and Adelaide BankBendigo Bank, Adelaide Bank, Up, Rural Bank, Alliance Bank, Delphi Bank
Bank of QueenslandME Bank, Virgin Money

In depth: Who owns my bank?

The value of trust
Australians like to know who they're banking with. A 2023 Finder survey found that having a bank they 'know and trust' was the second most important feature when choosing a savings account, second only to the interest rate offered.
Source: Finder Consumer Sentiment Tracker 2023

Does it matter if my bank is owned by another bank?

Who owns your bank won't have too much of an impact on your day-to-day transactions. However, it could impact you if you've got a large amount of cash sitting in the bank.

The Australian government's Financial Claims Scheme (FCS), which guarantees the security of your money in banks up to $250,000 per institution, applies to a bank's subsidiaries as well. Without knowing which banks own what, your savings might not be as secure as you might think.

For example, let's say you had $250,000 in a savings account with Ubank and another $250,000 in a savings account with NAB. Because ubank is owned by NAB, these two banks share the one banking licence. This means that the Australian government will only guarantee your deposit up to $250,000 with both Ubank and NAB, not the full $500,000 you have deposited.

However, because Ubank and Westpac are operating under different licences, if you had your $500,000 split between these two banks instead the full amount would be covered under the scheme.

The financial claims scheme is there to protect your cash if the bank fails. But it's important to remember that banks are incredibly regulated, and it's very unlikely that a bank would suddenly go under.

Benefits of your bank being owned by another bank

There are some benefits to your bank being owned by a larger bank too. You usually get access to the larger banks ATM network all over the world, which is convenient and can also save you money in fees.

For example, St.George, BankSA, RAMS and Bank of Melbourne are all owned by Westpac. Westpac has the largest global ATM network with more 50,000 ATMs around the globe. If you're a customer of one of these smaller banks, you'll also get fee-free access to Westpac's huge ATM network.

You might also be able to access the bank branches for the parent bank, if there are no local bank branches in your area.

Frequently Asked Questions

Sources

Alison Banney's headshot
Written by

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise
Alison has written 659 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living
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60 Responses

    Default Gravatar
    WandaDecember 27, 2014

    I transferred money from my Bankwest account to my son’s Commonwealth Bank account yesterday on Boxing Day 26th December 2014 for the first time – because Commonwealth Bank owns Bankwest will the transaction take the same amount of time to be processed as it would take when transferring from one Bankwest account to another Bankwest account?

      Shirley Liu's headshotFinder
      ShirleyDecember 29, 2014Finder

      Hi Wanda,

      Thanks for your question.

      Since Bankwest and Commonwealth Bank are still two separate financial institutions, it could take up to 1-3 business days for the funds to appear in your son’s account.

      Cheers,
      Shirley

    Default Gravatar
    JAQSeptember 22, 2014

    Hi,
    Just would like to know who owns the following banks and what affiliation they may have with any of the bigger banks?
    bankmecu
    Beyond Bank
    Thank you!
    Jacquie

      Shirley Liu's headshotFinder
      ShirleySeptember 23, 2014Finder

      Hi Jaq,

      Thanks for your question.

      bankmecu is owned my mecu Ltd 2012, and Beyond Bank Australia is a trading name of Community CPS Australia.

      Cheers,
      Shirley

    Default Gravatar
    HeidiMarch 12, 2014

    Hi, I was wondering if you could tell me who owns the following banks:

    Bank of Queensland
    Bendigo Bank (merged with Adelaide Bank)

      Shirley Liu's headshotFinder
      ShirleyMarch 12, 2014Finder

      Hi Heidi,

      Thanks for your comment.

      Bank of Queensland is owned by Bank of Queensland Limited and have recently acquired Virgin Money Australia.

      Bendigo Bank is owned by ‘Bendigo and Adelaide Bank’ and operates the Rural and Delphi Bank.

      Cheers,
      Shirley

      Default Gravatar
      HeidiMarch 13, 2014

      hanks Shirley. I really wanted to know what vested interest, if any, the big banks have in these smaller banks. I found this in a forum….interesting stuff:

      HSBC Custody Nominees (Australia) Limited is listed as the number one shareholder for all of the Big Four Banks. It is a wholly owned subsidiary of HSBC Holdings Plc – trading as HSBC BANK. They own 12.09% of Bendigo & Adelaide Bank and 17.00% of Bank of Queensland. They also own 17.46% of ANZ, 13.59% of CBA, 16.86% of NAB and 14.88% of WBC. Their annual report says HSBC made a profit US$7.1 billion before tax. As of 30 June 2010 it had total assets of $2.418 trillion, of which roughly half were in Europe, a quarter in the Americas and a quarter in Asia.

      JPMorgan Chase & Co (trading as the American Bank) own 7.92% of Bendigo and Adelaide Bank and 7.77% of Bank of Queensland. The American Bank thus owns: 14.51% of ANZ, 10.00% of CBA, 12.20% of NAB and 12.71% of WBC.
      JPMorgan Chase had a $12 billion profit for 2009.

      Citicorp Nominees Pty Limited own 2.13% of Bendigo and Adelaide Bank and 2.57% of Bank of Queensland. The own 3.84% of ANZ, 4.30% of CBA, 4.57% of NAB and 4.79% of WBC. Citigroup suffered huge losses during the global financial crisis of 2008 and was rescued in November 2008 in a massive bailout by the U.S. government. Its largest shareholders include funds from the Middle East and Singapore. In the last two financial years, their core businesses, together known as Citicorp, were profitable with $10.6 billion and $14.8 billion in net income. The company holds over 200 million customer accounts in more than 140 countries. It is a primary dealer in US Treasury securities.

      National Nominees is a wholly owned subsidiary of National Australia Bank Limited.
      They own 6.35% of Bendigo and Adelaide Bank and 10.87% of Bank of Queensland. They own 13.42% of ANZ, 8.81% of CBA, 11.46% of NAB and 10.47% of WBC. NAB had a net profit of $4.2 billion for 2009. …we certainly find it a little bit strange that they own less of themselves than they do of ANZ. This certainly deserves a “Please Explain!”

      Shirley Liu's headshotFinder
      ShirleyMarch 14, 2014Finder

      Hi Heidi,

      Thanks for your question.

      Unfortunately I can’t comment on the intention of the bigger banks as this information is not readily available for the public, but banks generally purchase shares from other banks for investment purposes.

      Ultimately financial institutions try to increase their equity so they can give back to their shareholders or members.

      Cheers,
      Shirley

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