Biggest lenders jockey for growth
By
BN
|
2/07/2010 5:45:00 AM
|
0
comments
The two biggest home loan lenders, Westpac and CBA, lost ground to their rival top tier banking competitors in May, figures from the prudential regulator APRA show.
During May, ANZ and NAB grew their home loan books by 1.3%, with Westpac and CBA only managing 0.8% growth, according to the Australian Prudentail and Regulation Authority.
The Australian Financial Review reports it was the first time Westpac lost market share in nine months, a possible reaction to its rate rise above the Reserve Bank late last year.
NAB cut margins on its mortgages to attract new customers this year, and currently has the lowest variable home loan rate of the top tier banks, at 7.24%.
Latest Comments