Westpac and CBA retain lead on loans
By
Kevin Eddy
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2/08/2010 5:50:00 AM
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3
comments
Westpac and CBA are still lending the lion's share of bank home loans, according to new figures.
APRA's latest monthly banking statistics reveals that Westpac had $262.6bn under loan in mortgages at the end of June, $182.2bn borrowed by homeowners and $80.4bn by investors. CBA, meanwhile, was lending $245.7bn to Australians, with $168.1bn of that going to householders and $77.6bn to investors. Between them, the two banks held 53% of the Australian mortgage market in June.
NAB was the third-biggest lender of the Big Four, with $145.3bn under loan and a 15.1% market share, while ANZ brought up the rear at $144.3bn (a market share of 15%). The largest of the second-tier banks was the Bank of Western Australia with a 3.9% market share and a total of $37.6bn under loan.
The total amount of mortgage funding lent by banks as of 30 June totalled $959.6bn - 61.8% of the total lending on the books of Australian banks.
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Latest Comments
Total:
3
comment(s)
Country Broker on
02 Aug 2010 11:49 AM
Please Brokers STOP supporting these two lenders, they led the cut in commissions in the GFC !!!!! , there are alternatives who are cheaper and easier to deal with.
mortgageandlease on
03 Aug 2010 11:56 AM
Agree with the above, I can''t understand who is supporting both Westpac and CBA from brokerland. They are probably the two biggest culprits in regard to undermining our industry. CBA want volume and dont want to pay trail for the first 12 months and Westpac were the first to cut commissions and from personal experience, do not have a adequately resourced broker channel, almost a month to look at a new deal (last time I dealed with them), shows a complete lack of respect for us and a lack of commitment from my point of view.
Please, Please stop using these funders and support the ones that support us.
Robert Kaya on
04 Aug 2010 11:51 PM
It is the big ones that have the money!Simple as that..