NAB gaining ground in mortgage market

National Australia Bank is the one bank that has acquired meaningful extra market share in the home loan market over the last couple of years. Australian Prudential Regulation Authority data shows that since late 2009 NAB has added A$39 billion in new home loans in Australia, a little more than Commonwealth Bank and a little less than Westpac.

NAB's October 2011 market share of 15.7 per cent is a gain of 1.6 percentage points since its low point in market share, reported in April 2010. On the other hand, it needs to recover another 1.6 percentage points to return to its early 2000s market share.

While NAB is gaining ground, market leader Commonwealth Bank is still tolerating a slow erosion of its lead. CBA's market share of home loans, as a percentage of loans provided by all banks, was 27.8 per cent at the end of October.

Source: Banking Day