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Major bank market share has fallen in Australia, report says

By Ryan Cropp ( December 11, 2024, 05:07 GMT | Insight) -- The market share of Australia’s big-four banks has fallen over the past decade, despite broader consolidation in the industry over the same period, according to the country’s top financial watchdogs. In an issues paper published this week, Australia’s Council of Financial Regulators said that the country’s “big four” banks currently had a 72 percent share of total banking assets, down from 77 percent in 2015.  The review is designed to develop ideas for improving competition in Australia’s small-to-medium-sized banking sector.The market share of Australia’s big four banks has fallen over the past decade, despite broader consolidation in the industry over the same period, according to the country’s top financial watchdogs....

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