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Banks lose market share

by Staff Reporter7 minute read
The Adviser

Staff Reporter

The cumulative market share of Australia’s banking institutions fell slightly in October, new research has found.

According to RFi’s latest Australian Mortgages Monthly Monitor, the banks’ share in the value of overall owner-occupied lending commitments fell 1.7 per cent in October to 89.6 per cent.

That said, the market share of Australia’s big four managed to grow slightly – up 0.6 per cent in October to $680.6 billion.

Westpac holds the largest share of the market, with 27.3 per cent, followed by CBA and NAB with 26.3 per cent and 16.4 per cent respectively.

Surprisingly, ANZ now has the smallest market share of all the majors, accounting for just 13.7 per cent.

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