Bank of the Year 2008
"It's been an action-packed time led by 12 consecutive interest rate rises from the RBA since May 2002, fuelling an infectious 'material disease' called 'mortgage stress'," says Money editor Effie Zahos.
"There's the emergence of a possible trend of big banks swallowing smaller competitive ones."
In this banking climate, Money's Consumer Finance Awards - including Bank of the Year 2008 - couldn't have come at a better time.
"Products and prices are moving quickly, so it's worth checking on how your products compare with this year's winners," says Andrew Spicer, CEO of Cannex, the research house behind the Consumer Finance Awards.
The winners of the Bank of the Year 2008 awards are:
Bank of the Year: Commonwealth Bank of Australia
Credit Union of the Year: Community CPS Australia
Building Society of the Year: Newcastle Permanent
Credit Card Issuer of the Year: St George/BankSA
Money Minder of the Year: Bankwest
Personal Lender of the Year: Holiday Coast Credit Union
Home Lender of the Year: ANZ
Non-Bank Lender of the Year: Homestar Finance
Margin Lender of the Year: Colonial Margin Lending
Business Bank of the Year: Westpac
Banking Website of the Year: Commonwealth Bank of Australia
Socially Responsible Bank of the Year: Westpac
Seniors Bank of the Year: ANZ