Major 'not ignoring' mortgage market despite share decline

by Mackenzie McCarty05 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, according to the Australian Prudential Regulation Authority (APRA), but rival big bank Westpac says it’s ‘happy to grow under the system’.

Data compiled up to the end of December, 2012, shows NAB's market share of home loans was 16.4%. 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%.

CBA declined to offer comment, but Wespac senior media relations manager, corporate affairs and sustainability, Danny John, says the bank is comfortable with its current standing in the mortgage market.

“Westpac Group has, across both of its major brands - Westpac retail banking and St George - grown its market share by about 2% [in the past four years]. We're really happy with the growth that we've achieved over that period.”

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  • by Marty 5/02/2013 10:42:14 AM

    Shows how big their books are really. When they are not even trying that hard and still their market share only drops 0.5%