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Finance Assignment | Financial Instruments & Institutions

   

Added on  2020-06-06

8 Pages1993 Words30 Views
FINANCIAL INSTRUMENTS ANDINSTITUTIONS

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................4

INTRODUCTIONFinancial instruments are various assets, commodities or contracts in between partieswhich can be traded, created or modified using financial institutions. The two main types offinancial tools are cash and derivative instruments. The values of cash assets are derived from themarket whereas, the exchange-traded and over-the-counter (OTC) derivatives value is calculatedby using interest rates.Banking refers to lending and borrowing of monetary products. A bank either retail orcommercial earns profit based on the difference between interest rate provided on savingsaccount and the rate of loan provided to users for a particular period (Dodgson and Gann, 2014).Every financial institution has various forms of instruments of finance which are provided toordinary people, multinational companies or others. Thus, the banking sector is growingtremendously and thereby providing better customer services through virtual systems. In order tosurvive in the competitive field of the banking sector, all banking organizations are looking forbetter service opportunities to provide their fellow clients.Australia is dominated by four major financial institutions which has a total of A$ 2.66trillion assets together. These are:National Australia Bank (NAB)Australia and New Zealand Banking Group (ANZ)Commonwealth Bank (CBA) and Westpac (WBC)The Westpac is among the top four banks of Australia whose headquarter is in Sydneywhich provides banking and financial services. Company was found in the year 1871 which hasapproximately 1500 branches at present. The firm earned a net total revenue of A$ 21.642 billionat the end of 2015 by rendering financial services to all. Another being NAB located inMelbourne earned revenue of 2,017.6 crores AUD in year 2015. The Australia and New ZealandBanking Group (ANZ) has total revenue of A$ 21.071 billion through rendering various financialservices (Scott, Reenen and Zachariadis, 2017). Lastly, the Commonwealth Bank was found in1911 that has reported revenue of A$26.005 billion in 2017 through banking services andinvestment plans (Parameswar, Dhir and Dhir, 2017).The USA based institution providing banking services and financial assistance is Bank ofAmerica having headquarters in Charlotte, North Carolina. The bank was found in 1904 and is1

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