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NAB and ANZ build market share

by Staff Reporter8 minute read
The Adviser

Staff Reporter

Westpac and the Commonwealth Bank are not expected to enjoy robust market share gains over the coming 12 months, a new report has found.

According to the latest JP Morgan and Fujitsu Australian Mortgage Industry Report, CBA and Westpac dominated the mortgage market share statistics post GFC, with 26.0 per cent and 24.3 per cent respectively.

While ANZ and NAB both have significant market share, they did not capture the post-GFC market share shift to the same degree as CBA and Westpac.

However, according to JP Morgan banking analyst Scott Manning, there has been a change in the growth dynamics amongst the major banks over the course of 2010.

“Following a period of extremely robust market share gains since the onset of the GFC, CBA and Westpac have pulled back to system levels of growth over the course of 2010,” Mr Manning said.

“Conversely, ANZ and NAB have filled in the growth gap, facilitated by their less onerous annual wholesale financing requirements.”

According to Mr Manning, this trend will continue into 2011, especially as the new Basel III regulations come into play.

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