Federal government of Australia follows the “Four Pillar Policy” to maintain the status quo and through this policy it was able to reinforce the status of big 4 banks of Australia during the global recession of 2008-2009.
During this time Westpac acquired St. George Bank and the Common wealth Bank acquired Bankwest. The bank is situated in Perth. Though it is owned by Commonwealth bank but it still operates independently. This bank is making news due to its philanthropic efforts which includes $1mn in scholarships. It has over 1mn customers. The bank is also known “The bank of Western Australia”. It was founded in 1895.The key executives of the bank are Mark Reid, Jason Clifton, Rob De Luca, Vittoria Shortt and Sue Tindal. Bank west provides various banking services and products and services to its customers like savings & term deposits, credit cards, home loans, personal loans, business loans, business credit cards, international trade. It is ranked eighth among the banks in Australia based on total assets figure. The data of 2015 is not available so these are the figures of last year. It is ranked 8th based on its total assets figure as of 31st Dec 2014.