Banks

Australian and foreign banks in NSW

New South Wales is a regional hub for banking and finance.

Foreign banks

The Arab Bank Australia and the State Bank of India both have branches in Sydney, as do many North American and European banks.

The top five Chinese banks with headquarters in Sydney are the Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications, Bank of China and Agricultural Bank of China.

Financial regulatory bodies

Australia's key financial regulatory bodies have their head offices in Sydney. These bodies include the Reserve Bank of Australia (RBA), the Australian Prudential Regulatory Authority (APRA) and the Australian Securities and Investment Commission (ASIC).

Finance and insurance

Finance and insurance is the largest industry in NSW, contributing A$68 billion to the state's economy in 2016–17. That contribution is also the largest of any states, with NSW making up 45% of the national finance and insurance industry.

In Sydney alone, the finance and insurance industry contributes about 13% of gross state product for NSW.

Financial services companies choose Sydney and NSW as their headquarters for a number of reasons, including the state's highly educated and multilingual workforce. About 182,900 people are employed in the finance and insurance industry in NSW, representing nearly 5% of the state's workforce.