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‘Big two’ banks tighten stranglehold on mortgage lending

Staff Reporter 1 minute read

Westpac and CBA have tightened their grip on the national mortgage book by taking more than 85 per cent of the banking sector's new mortgage lending during the June quarter, a report from Core Data has found.

CBA / Bankwest and Westpac / St George accounted for $30.3 billion of the nation’s $35.6 billion mortgage growth.

Westpac / St George had the fastest growing mortgage book, with $15.2 billion in new mortgage lending while CBA / Bankwest grew by $15.1 billion during the June quarter.

Westpac / St George was also the most aggressive mover for the quarter, almost doubling its $7.7 billion growth figure recorded in the March quarter.

‘Big two’ banks tighten stranglehold on mortgage lending
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