Merged bank ranked second in deposits

John Phillips
A union of Westpac and St George will create a deposit-taking powerhouse with $81 billion in household deposits, according to the latest March 2008 APRA statistics.

Commonwealth Bank with $99 billion would still trump the new entity, but there's daylight to the pack with National $48 billion and Australia and New Zealand $38 billion.

The new bank, with $56 billion in deposits from business, would leapfrog ANZ and Commonwealth with $49 billion and $37 billion respectively, being second only to National with $63 billion.