5 Largest Banks in Australia 2026: Big Four Dominate as Commonwealth Bank Leads by Assets and Market Cap |
SYDNEY — Australia's banking sector remains highly concentrated in 2026, with the "Big Four" banks — Commonwealth Bank of Australia (CBA), Westpac Banking Corporation (Westpac), National Australia Bank (NAB) and Australia and New Zealand Banking Group (ANZ) — controlling the majority of total assets, deposits and market share. Recent data from the Australian Prudential Regulation Authority (APRA) for January 2026 and market updates as of mid-March show CBA solidifying its position as the nation's largest lender by total residents' assets, overtaking Westpac in some rankings amid economic pressures and profit challenges.
The Big Four dominate not only by assets but also by market capitalization on the ASX, where they rank among Australia's most valuable companies. Together, they hold over 70% of domestic financial institution assets and continue to drive the sector's performance despite rising interest rates, cost-of-living strains and regulatory scrutiny.
Here are the five largest banks in Australia in 2026, ranked primarily by total residents' assets (per APRA January 2026 data) with market cap context:
Commonwealth Bank of Australia........