Victorian home loan market
The Commonwealth Bank has been very aggressive in Victoria recently, with their home loan market share back to the level they had prior to their take over of the State Bank of Victoria.
While the suggestion has been that the CBA has been winning Westpac owned Bank of Melbourne customers, figures quoted in the Australian have the Westpac/BoM market share at around the same levels as 12 months ago.
Bendigo Bank has also been actively pursuing Westpac/BoM customers through advertising as the last Victorian owned bank. They too declare that their business has been growing strongly.
The inference has been that BoM./Westpac has lost market share, but that does not appear to be the case. Certainly the CBA and Bendigo appear to have picked up market share.
That leaves the question; who is losing market share in Victoria? I don’t think any of the financial institutions will be too quick to name themselves as the “winner” of that contest………