Major banks pick up awards

The ANZ Bank won two out of the three top awards in Personal Investor's financial services sector awards ceremony. The ANZ won the categories for Savings Institution of the Year and Home Lender of the Year. It was ANZ' third consecutive year as the winner of major banking awards.

Westpac also won a banking award, for Business Lender of the Year.

The editor of Personal Investor, Robin Bowerman, said that this year's awards saw major banks claw back some ground from credit unions, smaller banks and building societies. It shows a serious intent on the part of banks to win back some of their lost market share, he said.

There were 40 categories in the awards, with the winners being selected for having the best rates on products assessed or for the lowest fees. In general, Mr Bowerman said, banks are now giving discounts as rewards for customers who “bundle” their business with the banks.