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Brokers steal market share at major bank

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Australian Broker | 11 Feb 2016, 07:41 AM Agree 0
The third party channel has made significant gains over the proprietary channel for one major bank
  • John | 11 Feb 2016, 09:04 AM Agree 0
    The figures CBA have given, I would be very surprised if they were correct? They would never say the broker channel writes more than branch land.
  • observer | 11 Feb 2016, 09:13 AM Agree 0
    CBA credibility is a bit on the nose at the moment with the various lending/advice sagas they have. I am not surprised people are avoiding direct contact. Brokers however when explaining the various options can still sell CBA loans and client knows it is actually the best loan for them.
  • Ex-cba | 11 Feb 2016, 12:16 PM Agree 0
    CBA have less and less resources through their direct channels. As a previous branch lender with them, I had 5 branches to look after. Their video conference alternative is 'on the nose' with most clients. Now as a broker, one of my best sources of business is disgruntled CBA clients looking for alternatives. It is clear to me that their big picture strategy with ownership of Aussie and shareholdings in Mortgage Choice that they wouldn't be too concerned with these stats. Doesn't mean the say the staff won't be under any less pressure to sell at the coal front. I wouldn't be surprised to see this trend continue indefinitely.
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