Australian banks fight back

Figures released by the Australian Prudential Regulation Authority show that while banks backed by offshore companies have made inroads into the market share of the big 4 Australian banks, there are some areas where the locals are improving. The Commonwealth Bank has lost share in consumer products such as home loans and credit cards but has grown in business lending and deposits. Westpac has grown their home loans and business loans share and also had the highest growth in credit cards. ANZ has lost share in credit cards and business lending while NAB has put a stop to their losses in home loans by improving their payments to mortgage brokers.