NAB lifts its mortgage share

by AB01 Feb 2013
NAB has lifted its share of the mortgage market by more than 2% since the lowest point in its market share in 2010 – a dip that helped spur the repositioning of the bank's products and services in early 2011, according to the Australian Prudential Regulation Authority (APRA).
 
Data compiled up to the end of December, 2012, shows NAB's market share of home loans was 16.4%. The bank's market share stood at around 14.2% in May 2010.
 
Banks that lost market share in home loans over the calendar year 2012, based on APRA data, include CBA, down 0.8 percentage points to 27.2%, and Westpac, down half a percentage point to 25.6%.
 
The fight for market share in lending continues in a market segment growing at an unusually slow rate.
 
Monthly financial aggregates released by the RBA on Wednesday put growth in home lending at 0.3% in December 2012, with year-end growth of 4.5%. This is a third of the rate of growth six years ago.
 
The RBA put overall credit growth at 3.6% for the year to December.
 

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