The finance and insurance sector has continued its dominance of the Australian economy, with these companies accounting for 138 positions in IBISWorld’s 2014 Top 1000 companies report.
The big four banks all retained top 10 positions in the list, with NAB
leading the way in 5th position. This was followed by Commonwealth Bank (6th), Westpac (7th) and ANZ
The highest ranking non-major bank was Bendigo and Adelaide Bank, which ranked as 117th top Australian company, despite slipping six spots from 2013. ING
Direct was the second highest ranking non-major, although it was well behind Bendigo and Adelaide Bank, taking out 152nd position.
CUA was the first credit union to make the list, landing the 578th spot, followed by People’s Choice Credit Union coming in at 857th.
Non-bank lender, Pepper
also squeezed into the top 1000, making the list as the 962nd top company in Australia. However, the specialist non-bank lender dropped 43 spots from 2013, when it placed 919th.
According to IBISWorld, the Top 1000 Companies list provides an overview of Australia’s largest private, public and government organisations, ranked by revenue. During 2014, average revenue growth across the top 1000 companies was 7.5%, down from 14.6% growth across last year’s list.