Major market share rebounds

by Miklos Bolza12 Sep 2017
After losing out market share to the non-major lenders, the big four banks are now back in the game, bringing in more loans through the broker channel.

These results come from the latest AFG Competition Index which found that major market share was 65.90% at the end of August, making a comeback after hitting a low of 63.39% in June.

“Fixed rate products have recorded the largest increase with the majors now claiming 74.8% share in this category,” said AFG general manager of residential and broker Mark Hewitt.

ANZ has made the most progress, taking the “lion’s share” of the fixed rate business and jumping from 10.51% in June to 20.82% at the end of August. This has largely been at the expense of Westpac which recorded a drop of 7% during this time.

“Westpac also fell back in the investor category, dropping from 16.92% in June to 12.91% at the end of August,” Hewitt said.

Again, ANZ seems to have nabbed this share, increasing from 13.22% to 19.99% during this time.

“ANZ is also appealing to those seeking to refinance. Their market share amongst refinancers has jumped from 15.22% to 18.5% across the quarter.”

Looking at market share for the four major banks, AFG’s figures are as follows:
 
  Total Fixed rate Refinance Investor FHB
ANZ 18.28% 20.82% 18.50% 19.99% 18.16%
CBA 14.25% 10.48% 10.95% 12.10% 16.79%
NAB 9.73% 17.72% 9.03% 11.09% 13.17%
Westpac 9.66% 12.26% 8.13% 12.91% 8.17%

For the non-major lenders, AFG listed the following as having the greatest market share outside of the big four:
  • AFG Home Loans (8.85%)
  • Suncorp (4.35%)
  • ING (3.74%)
  • Macquarie (2.92%)
  • Liberty (2.50%)
  • ME (2.42%)
  • AMP (1.82%)
  • Bank of Queensland (1.29%)
  • Citibank (1.17%)
Related stories:

Competitive concerns behind risky lending: RBA

Broker numbers to swell in SME space

Specialist lender to tackle channel conflict