A sneak peek at performance of ‘big four’ banks on ASX today

Highlights: 

• ANZ, CBA, NAB, and WBC collectively represent the ‘big four’ banks in Australia. 
• These banks operate through several branches both in and outside Australia. 

The ‘big four’ banks in Australia represent the four top-ranking financial institutions in the country with respect to assets, customer base, earnings, and market capitalisation. These banks offer a wide range of services to individual customers as well as to businesses, and they operate through several branches across Australia. 

Here, we feature the ‘big four’ Australian banks and their performance on the ASX today. The Australian ‘big four’ banks are Australia and New Zealand Banking Group Limited (ASX:ANZ), Commonwealth Bank of Australia (ASX:CBA), National Australia Bank Limited (ASX:NAB), and Westpac Banking Corporation (ASX:WBC). 

Australia and New Zealand Banking Group Limited (ASX:ANZ) 

The shares of Australia and New Zealand Banking Group Limited (ASX:ANZ) were buzzing in the green territory on Tuesday afternoon. The share price gained marginally by 0.312% on the ASX to AU$25.640 per share at 12:12 PM AEDT today. 

The share price of ANZ has declined by over 8% on the ASX over the last 12 months. Moreover, on a year-to-date (YTD) basis, the bank’s share price has dropped below 7.67% on the ASX (as of 12:12 PM AEDT today).  

Australia and New Zealand Banking Group Limited are one of the big four banking institutions of Australia. The bank’s headquarters are in Melbourne.

The retail and commercial segment of ANZ includes retail, commercial, and private banking business units. The bank serves its clients mainly through three financial products of its own: transaction banking, corporate finance, and markets. ANZ’s personal and commercial banking services are incorporated in its New Zealand section. At present, the Australia and New Zealand Banking Group holds a market capitalisation of AU$75.37 billion. 

Commonwealth Bank of Australia (ASX:CBA) 

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Commonwealth Bank of Australia’s (ASX:CBA) shares were spotted trading on a negative note, having fallen by 0.076% on the ASX, to AU$104.600 per share, at 12:06 PM AEDT today. 

Commonwealth Bank’s share price has fallen by 1.41% on the ASX in the last 12 months, and on a YTD basis, it has gained by over 2% on the ASX (as of 12:06 PM AEDT today).  

Holding a market capitalisation of AU$177.56 billion, the Commonwealth Bank of Australia is also one of the big four financial institutions of Australia.

National Australia Bank Limited (ASX:NAB) 

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Shares of National Australia Bank Limited (ASX:NAB) began trading in the red territory on the ASX on Tuesday morning. Its share price was quoted at AU$32.210 per share after shedding 0.647% of its value on the ASX at 10:48 AM AEDT today. 

In the previous year, National Australia Bank’s share price has surged by more than 13% on the ASX and on a YTD basis, the bank’s share price has gone up by almost 10% (as of 10:48 AM AEDT today).  

Established in 1982, National Australia Bank Limited is an ASX-listed financial institution ,which is also a part of the ‘big four’ banks of Australia. NAB offers a wide range of services ranging from internet banking to credit cards, accounts, insurance, loans, etc.

National Australia Bank was initially known as National Commercial Banking Corporation of Australia Limited. Eventually, the bank assumed its current name.  

At present, National Australia Bank is led by Ross McEwan, who is the chief executive officer and managing director of the institution.

Westpac Banking Corporation Limited (ASX:WBC) 

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Westpac Banking Corporation (ASX:WBC) opened Tuesday’s trading session on a negative note. Its share price fell marginally by 0.352% on the ASX, to AU$24.025 apiece, at 10:33 AM AEDT today. 

The share price of Westpac has increased by 1.30% on the ASX in the last 12 months, and on a YTD basis, its share price has gained over 11% on the ASX (as of 10:33 AM AEDT today). 

Westpac Banking Corporation Limited is an ASX-listed financial institution established in the year 1871. The bank also forms a part of the ‘big four’ banks of Australia. 

Westpac is also said to be the largest bank in New Zealand and the oldest bank in Australia. The bank mainly offers institutional banking and wealth management services to its customers and businesses.

At present, the bank is led by John McFarlane, the chairman and an independent non-executive director, and Peter King, the chief executive officer and managing director.

Meanwhile, the S&P/ASX 200 Financials sector (INDEXASX:XFJ) was quoted at 6,502.1 points, down by 0.169%, on the ASX at 11:05 AM AEDT today.