By: Belinda Luc
Westpac has come out on top of the other majors, posting the highest value of home loan advances on its books in the month of May, according to latest figures from the Australian Prudential Regulatory Authority (APRA).
In May, the value of owner occupier and investment home loans advanced by Westpac, according to its loan books, made up a total of $25.9 billion – 33 per cent of the major banks' market share.
CBA also posted a strong result in May, with $24.4 billion on its loan books, or 31 per cent market share of the majors.
Despite having lower interest rates, NAB and ANZ sat behind Westpac and CBA, with each accounting for 18 per cent of the market.