The Australia and New Zealand Banking Group Limited, commonly called ANZ, is the third largest bank by market capitalisation in Australia, after the Commonwealth Bank and Westpac Banking Corporation. Australian operations make up the largest part of ANZ's business, with commercial and retail banking dominating. ANZ is also the largest bank in New Zealand, where the legal entity became known as ANZ National Bank Limited in 2003 and changed to ANZ Bank New Zealand Limited in 2012. From 2003 to 2012, it operated two brands in New Zealand, ANZ and the National Bank of New Zealand. The National Bank brand was retired in 2012, with a number of branches closing and others converting to ANZ branches.
The Commonwealth Bank of Australia is an Australian multinational bank with businesses across New Zealand, Asia, the United States and the United Kingdom. It provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment and broking services. The Commonwealth Bank is the largest Australian listed company on the Australian Securities Exchange as of August 2015 with brands including Bankwest, Colonial First State Investments, ASB Bank, Commonwealth Securities and Commonwealth Insurance. Commonwealth Bank is also the largest bank in the Southern Hemisphere.
National Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation, earnings and customers. NAB was ranked 21st largest bank in the world measured by market capitalisation.
National Australia Bank was formed as National Commercial Banking Corporation of Australia Limited in 1982 by the merger of National Bank of Australasia and the Commercial Banking Company of Sydney. The resulting company was subsequently renamed National Australia Bank Limited.
Westpac Banking Corporation, more commonly known as Westpac, is an Australian bank and financial-services provider headquartered in Barangaroo, Sydney. It is one of Australia's "big four" banks. Its name is a portmanteau of "Western" and "Pacific".