Big four have many brands
St George, Bankwest, UBank, RAMS, Aussie, Wizard Home Loans, Bank of Melbourne, BankSA are all owned or part owned by a big four bank.
In a recent survey of 1,000 Australians by Abacus, the industry association for credit unions and building societies, just 53 per cent of those surveyed were aware that St George is now owned by Westpac. 36 per cent were aware that Bankwest was also taken over by Commonwealth Bank in 2008.
Just one in five knew that UBank is simply a brand created by National Australia Bank and just one in eight that Aussie is today one-third owned by Commonwealth Bank with plans for a majority takeover.
National Australia Bank is by far the biggest bank operating in the mortgage broking space, having acquired mortgage broking networks Choice Home Loans, Plan Australia and FAST in 2009. Westpac took out RAMS Home Loans in 2008.
Source: Herald Sun