Market capitalization of the big four banks in Australia 2024

The Commonwealth Bank of Australia reported a market capitalization of approximately 213 billion Australian dollars as of September 2024. All the other leading banks in the country reported significantly lower figures. 

What is market capitalization?

All four of the largest banks in Australia were among the top Australian companies on the ASX by market cap. Market capitalization is used to determine the size of companies and to quantify their aggregate market value. It is calculated by multiplying the current market price of a company by the total number of outstanding shares. The market cap fluctuates along with the market price of shares for a company that is publicly listed. In that respect, market uncertainty from external influences can play a significant role in the valuation of a company.

Leading banks in Australia

The leading banks by assets in the country are ANZ, the Commonwealth Bank, NAB, and Westpac. These are collectively known as the ‘big four’ and have traditionally dominated Australia’s banking industry. Commonwealth Bank was one of the largest Australian companies listed on the Australian Securities Exchange and operates in New Zealand, Asia, and the United Kingdom. In fact, the Commonwealth bank was among the leading banks worldwide.