Big banks growing market share again
Smaller deposit-taking institutions have seen a dip in their share of new business in the home loan market, monthly data on housing finance by the Australian Bureau of Statistics shows.
The market share of non-banks (including credit unions, building societies and mortgage managers) fell to 7.5 per cent in early 2009 in the wake of the financial crisis and the rush of deposits to major banks.
That market share gradually recovered, to 10.8 per cent, in late 2010, a trend in part assisted by the recovery of the market for mortgage-backed securities and the purchase of some of those securities by the Australian Office of Financial Management.
However, the market share of non-banks fell over each of the first four months of 2011, on a trend basis, the ABS data shows.
Source: Banking Day