New reports reveal the shift to a digital economy is accelerating.
Australia’s ‘Big Four’ are not merely big, they’re massive.
Their combined assets stood at $2.86 trillion in 2013 – or roughly twice the size of Australia’s national income.
They also annually make up four of the five largest Australian companies by market capitalisation, together representing more than a quarter of the market, with control of 88% of residential mortgages and 80% of deposits according to the IMF.
Oxfam report accuses Big 4 of financing illegal activites. Photo: SMH Australia’s leading ‘Big 4’ banks – National Australia Bank (NAB), Commonwealth Bank (CBA), Westpac and ANZ – have been accused of supporting land grabbing, child labour, forced evictions, inadequate compensation, food shortages and illegal logging, according to an Oxfam report released in April. The report,