Westpac and ANZ battle for third

Westpac has overtaken ANZ in terms of market share to become the country's third largest bank. ANZ Bank shares have been sliding since last week's annual profit announcement and yesterday lost a further 26 cents to close at $29.69. Westpac shares gained 7 cents to $29.95 putting its market capitalisation at $55.86 billion compared with ANZ's $55.36 billion.