ANZ and Westpac win mortgage market share
Monthly banking figures compiled by the Australian Prudential Regulation Authority show ANZ has piled on the fastest growth in mortgage sales over the past year, growing its lending book by 8.6 per cent. This is slightly ahead of NAB, which is growing its mortgage book at 8.3 per cent, mostly through the use of discounts to lure new customers.
Market heavyweights Commonwealth Bank and Westpac have both ceded market share in mortgages, growing 4.5 per cent and 4.1 per cent respectively, the APRA figures show.
Over the past month NAB's mortgage lending book has grown at twice the pace of both Commonwealth Bank and Westpac, while ANZ's rate of mortgage growth has started to slow.
Source: Sydney Morning Herald