Consumer-owned banks have topped the list of Australia’s best banks, taking up four of the top five places on the prestigious Forbes list.
Newcastle Permanent was named as the second-best bank in Australia and the best of all banks that are owned in Australia. ING Group, which operates in Australia but is owned in the Netherlands, took the top spot.
The next three banks were all consumer-owned: Greater Bank, Heritage Bank and Beyond Bank rounded out the top five.
In creating the ranking, Forbes spoke to 43,000 customers across 28 countries to rate them based on a variety of factors including customer satisfaction, trust, fees, digital services and financial advice.