Source Australian Financial Reviews title Australia tops list of top 10 biggest banks by dollar amount article Credit Suisse Group AG (SIE) Australia’s largest bank by market capitalisation (GVA) at $6,076 billion.
Credit Suise is the second largest by market cap after the US-listed Bank of America Corp. (BAC) at nearly $6.7 trillion.
The Australian government, the country’s biggest shareholder, controls 70 per cent of the company.
The US-based lender is widely viewed as one of the best and most powerful financial institutions in the world.
It is the world’s third-largest bank by assets.
Bank of Australia’s shares have risen nearly 70 per to $30.00 since its listing in August 2013.
Credit Agricole SA SA (AS) The country’s second largest lender by market value, by market-cap.
Credit Aecom, a Dutch-based company, is the largest by GVA, with an estimated market capitalization of $6 billion at the end of the fourth quarter of this year.
Credit Asia Pacific Corp (APAC) is the third largest lender and the second-largest by market caps, with a market cap of $2.4 trillion.
It was founded in 1997 by Malaysian billionaire Suyanto Tan.
The country has a $6 trillion economy.
It also has the world ‘s biggest stock market, with $US9.3 trillion of assets under management.
The Asian giant has been under pressure to do more to reduce its exposure to foreign currencies as it faces a rise in the price of crude oil.
China’s central bank cut interest rates on Wednesday, prompting speculation that it could act to boost economic growth.
In January, it also raised interest rates from 1 per cent to 0.5 per cent.