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CBA shuts online home loan business

by Staff Reporter7 minute read
The Adviser

The Commonwealth Bank has shut down online mortgage business HomePath after it failed to attract a sustainable rate of new customers.

A CBA spokesperson told The Australian Financial Review that HomePath had only represented “less than 0.5 per cent” of the bank’s total home loan book and was closed as a result of “limited take up”.

“We will look at the HomePath product in the future when we have a more cost-efficient technology platform to support it,” the spokesperson said.

Published: 20-10-08

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