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Australia Retail Banking: Competitor Benchmarking 2024

Publisher GlobalData
Published Jun 04, 2025
Length 32 Pages
SKU # GBDT20133187

Description

Australia Retail Banking: Competitor Benchmarking 2024

Summary

This report benchmarks the largest retail banks in Australia across a range of financial and customer satisfaction metrics. The report analyzes gains/losses in market share, depth of customer relationships, consumer pain points, and key metrics including NPS, cross-selling, and digital satisfaction.

The Australian retail banking landscape is undergoing significant shifts as digital-first banking, customer engagement, and competitive product offerings redefine the market. The Big Four banks-ANZ, Westpac, NAB, and CommBank-continue to dominate, but smaller banks are gaining traction by providing niche, customer-centric services.

Scope
  • ANZ leads with nearly 75% of its customers holding three or more products, while ING lags in credit card penetration (-31 percentage points below average).
  • ING leads digital banking usage, with 93% of its customers being digitally active. However, Bendigo and Adelaide Bank struggles despite high satisfaction rates among existing users.
  • CommBank retains the highest proportion of customers from childhood, while Bendigo and Adelaide Bank has the most customer acquisitions in the past year.
Reasons to Buy
  • Develop an understanding of the composition of the Australian retail banking market.
  • Learn which banks are succeeding and which are failing across various metrics, ranging from profitability to Net Promoter Score.
  • Identify the actionable steps that need to be taken by Australian banks to address their biggest shortcomings.

Table of Contents

32 Pages
1. Executive Summary
2. Financial Performance
3. Customer Relationships
4. Customer Satisfaction
5. Actionable Steps
6. Appendix

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