Aussie Banks owned by Vanguard & BlackRock

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The 8 Largest Australian Banks (which own most of the smaller banks except community banks) are owned by Vanguard, BlackRock, and State Street.

(and just about everything else…)

Who Owns Australian Banks? The Answers Might Surprise You…

The 8 Largest Banks in Australia are owned by Vanguard, BlackRock, State Street

⤵ Links to the banks 2022 annual reports:↴↴↴ (brackets include which banks they own or hold majority share — see also this awesome infographic) (01) (02) (03) (04) (05)

  • CBA-Commonwealth Bank (BankWest, 45% stake in Lendi Group a.k.a Aussie Home Loans, 45% of Colonial First State)
  • NAB-National Australia Bank (UBank)
  • WESTPAC (RAMS, St. George, BankSA, Bank of Melbourne, wealth management brand BT)
  • ANZ (Esanda)
  • SUNCORP (ANZ in progress of acquisition pending approval in 2022) (06) (07)
  • MACQUARIE
  • BENDIGO (Adelaide Bank, Delphi Bank, Rural Bank, Up, Alliance Bank, AWA, BDCU, Circle Alliance, Community Sector Banking, Service One, Nova)
  • BOQ-Bank of Queensland (Virgin Money, Investec Bank, Home Building Society Ltd, ME Bank, BOQ Specialist)

Who are the top shareholders of the biggest eight Australian banks? Where are they based? And what percentage do they own? The answers to these questions have been extracted from the banks’ 2022 annual reports.

It may surprise you that the eight major banks have the same top five shareholders, and in four out of five cases, the parent companies of these shareholders are foreign owned.

These shareholders are:

  • HSBC Custody Nominees, headquartered in London.
  • JP Morgan Nominees, New York.
  • City Court Nominees, New York.
  • BNP Paribas Nominees, France.
  • National Nominees, Australia.

These companies are nominee companies, which are nominated to hold shares on behalf of other entities.

Now, if an entity has an interest of 5% or more of the total voting shares in the bank, they are classified as substantial shareholders, and their names must be disclosed by law.

Would it surprise you that only three companies are recognised as substantial shareholders in all of the eight banks?

  1. BlackRock Group headquartered in New York
  2. State Street Corporation, based in Boston
  3. Vanguard Group in Pennsylvania

All foreign owned and based in the USA.

So who are the main shareholders of each bank? What percentage of ordinary shares do these shareholders own? Who are the substantial shareholders of each bank?

Page 283 of the Commonwealth Bank‘s Annual Report 2022 lists the top 20 shareholders. We will focus on the top five. These five companies own 48% of all Commonwealth ordinary shares. Remember, four of the five are foreign owned. The substantial shareholders for the Commonwealth Bank are the BlackRock Group, State Street Corporation and the Vanguard Group. (08)

The National Bank‘s top shareholders can be found on page 259 of their 2022 Annual Report. As you can see, the top five are the same as the Commonwealth Bank’s top five shareholders and hold 53% of the total ordinary shares. The substantial shareholders are Black Rock, State Street and Vanguard. (09)

Turning to page 298 of Westpac‘s 2022 Annual Report, it seems the same top five appear once more. These top five own 45% of Westpac’s ordinary shares. The substantial shareholders are, again, Black Rock, State Street and Vanguard. (10)

The ANZ top 20 shareholders list appears on page 246 of their 2022 Annual Report. Again the top five are the same companies and own 54% of all ANZ’s ordinary shares. Again we find the same substantial shareholder list as in the previously mentioned banks. (11)

Suncorp Group Limited have its top shareholders on page 196 of their Annual Report 2022. The same five shareholder’s own 64% of all ordinary shares. The substantial shareholders again are the same being the BlackRock Group, Vanguard Group and State Street Corporation. (12)

Page 147 of the Bendigo and Adelaide Bank‘s Annual Report shows the same five shareholders as all previous banks mentioned. They own 39% of all the banks’ ordinary shares. The substantial shareholders are the Vanguard Group and the State Street Corporation. (13)

Page 189 of the Bank of Queensland‘s Annual Report shows again the same five shareholders holding prime position, owning 37% of all ordinary shares. Page 193 shows the substantial shareholders being the Vanguard Group and State Street Corporation. (14)

The Macquarie Bank‘s top shareholders can be found on page 301 of the 2022 Annual Report. This bank has some differences compared to the others. The top five includes Bond Street Custodians who is owned by Macquarie. They replace BNP Paribas nominees. Total shareholding of the top five is 59% of all ordinary shares. The substantial shareholders are Macquarie Group Limited and the BlackRock Group. (15)

So what are the takeaways? These five companies are the majority shareholders in the eight biggest banks in Australia, four and a five are foreign owned.

These three companies (BlackRock, State Street, and Vanguard) are the largest individual shareholders in the eight biggest banks in Australia. All three are foreign owned.

Less than 1% of shareholders of each bank owns around 50% or more of the total shares issued.

Top 10 largest Australian companies

(as at 18 March 2021) (16)

  1. Commonwealth Bank of Australia (CBA)
    • Biggest of Australia’s Big 4 Banks
  2. BHP Group (BHP)
    • Global mining giant: coal, gold, copper, iron ore, petroleum. Second largest company on the ASX. Market capitalisation of nearly $134 billion
  3. CSL (CSL)
    • Australia’s leader in the biotechnology industry: pharmaceutical and diagnostic products made from human plasma. Market capitalisation at $116 billion
  4. Westpac Banking Corporation (WBC)
    • Australia’s second largest bank
  5. National Australia Bank (NAB)
    • Third largest of Australia’s Big 4 banks
  6. Australia and New Zealand Banking Group (ANZ)
    • Fourth largest of the Big 4
  7. Fortescue Metals Group (FMG)
    • Mining: iron ore
  8. Wesfarmers (WES)
    • Wesfarmers owns retail chains, operates mines, writes insurance, produces industrial products and distributes liquefied petroleum, amongst other activities
  9. Macquarie Group (MGQ)
    • Australia’s largest investment banking firm
  10. Woolworths Group (WOW)
    • Australia’s number one food retailer. supermarkets and general consumer stores, as well as pubs, accommodation and gaming operations

See also:

These hedge funds basically control the planet: the banks, the supply systems, the land, the governments, the biggest corporations, all essential industries, the media “they control what you think”, social media, Hollywood, BigTech – Google, Twitter, Apple, Microsoft, Facebook. Travel, transport and all the airlines. All the vaccine and biotech companies. Tobacco and Health Insurance. Weapons. Police. Phones… You name it!

  • Everything.
  • They are BigPharma.
  • They are BigBusiness.
  • They are BigInsurance.
  • They are BigBanks.
  • They are BigMedia.
  • They are BigAgriculture.
  • They are BigEnergy.
  • They are BigTech.
  • They are BigGov.
  • They are BigFood.
  • They are BigOil.
  • They are BigEd.

There’s nothing important that they can’t exert control and influence over. They can make or break any of these companies.

They control everything because those in charge of where the funds are invested, can exert power over any company they are invested. i.e.:

“Play ball with us…
or we invest the funds elsewhere”.

I’ve got more about them all over my website. Here’s a good video intro (that is based off another brilliant documentary that was featured on my Who Owns the World? post):

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References[+]

Penny (PennyButler.com)
Penny (PennyButler.com)

Truth-seeker, ever-questioning, ever-learning, ever-researching, ever delving further and deeper, ever trying to 'figure it out'. This site is a legacy of sorts, a place to collect thoughts, notes, book summaries, & random points of interests.