Financial services

Home to two of Australia's largest and most globally connected banks, a world leading superannuation sector, and a dynamic fintech industry, Victoria's financial services sector is a substantial driver of the state's economy.

Melbourne is an important hub for institutional banking and plays a key role in Australia's robust and well-regulated banking sector. With approximately 60 per cent of the nation's institutional investors based in Melbourne, we have a deep pool of talent and exceptional thinkers in Australia's large fund's management sector.

Victoria is working with the financial services sector to build strategic partnerships in Asia and develop new export opportunities across the region.

Find out more about Melbourne's leading financial services market

Fast facts

  • The contribution of Victoria's banking, finance and insurance industry was worth A$40 billion in 2015-16.
  • Melbourne is the dominant city for Australia's industry pension funds (superannuation) sector.
  • Australia's largest health insurers are headquartered in Melbourne.
  • Financial services accounts for 11 per cent of Victoria's Gross State Product (GDP) – the largest contribution of any sector.
  • The financial and insurance industry – including the banking sector – accounts for 4 per cent of all employment in Victoria providing jobs for over 115,000 people.
  • Melbourne's top four industry superannuation funds manage over A$215 billion.

Video: Melbourne's capabilities in funds management

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