Best local bank - Commonwealth Bank
Like peas in a pod, Australia's big four banks dominate the commercial banking market. NAB lays claim to the biggest share of retail account holders, Westpac has cornered the corporate end of the market and ANZ runs an enviable investment banking business. But this year the achievements of the Commonwealth Bank have impressed our judges most. With total assets in excess of A$320 billion it is an institution to reckon with, but more importantly it appears to be expanding its business into new markets.
The June 2000 acquisition of 100% of Colonial Limited - a life insurance, banking and funds management group - has diversified...