HBOS takes aim at big bank dominance
British bank, HBOS is aiming to secure a market share of not less than 10 per cent in Australia, and its long-term aim is 15 per cent. Competition from international or large local players is becoming a feature of the Australian banking landscape. HBOS trades under the BankWest brand. The HBOS/BankWest six per cent interest offer on at call deposits succeeded beyond the bank’s expectations, with $2 billion in deposits. HBOS's next target is credit cards and the advertising budget of $10 million is twice what it spent on the marketing for the high yield deposit offer in late 2004.