This website has been compiled by the Australian Bankers’ Association (ABA) to encourage bank customers who are experiencing financial difficulties or financial hardship to contact their bank to discuss their situation.
The ABA represents 25 member banks - all of the major retail banks in Australia, some investment banks and some foreign banks. A list of our members is available here.
Banks and the Economy
The ABA works on behalf of members to ensure customers continue to benefit from a stable, competitive and accessible banking industry. ABS national Accounts data shows that, over 2016, the finance and insurance industry contributed $149 billion to the Australian economy, the largest contributor by any industry. The next highest was construction at $131 billion.
In 2016 banks paid $12.8 billion in income tax to the Federal Government.
Banks' Contribution to Growth
Taken as a whole, these factors make Australian banks one of the biggest contributors to Australian national growth. Economic growth benefits every Australian in five major ways:
- Better living standards for the country as a whole.
- Rising employment and jobs, especially in a time of global uncertainty.
- Increased investment in technology and infrastructure, such as roads, rail connections and telecommunications.
- Greater confidence among business and investors.
As part of its role, the ABA promotes financial literacy to help Australians manage their finances and make informed financial decisions.