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NAB, ANZ hindered by back office delays

09/03/2010

National Australia Bank and ANZ are expected to increase their shares of the home loan market in 2010. NAB’s move in December to become the outright cheapest mortgage lender in its own right resulted in it boosting its home loan volumes by $600 million in January.

However, this was well below Westpac and CBA, which increased their home lending by $3 billion and $2.2 billion respectively. NAB and ANZ’s attempts to grow market share in home loans is being hindered by delays in their processing of mortgage applications.

Source: Herald Sun



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