Jessica Darnbrough
The Commonwealth Bank of Australia has seen its market share slip for the fourth consecutive month, according to a new report.
RFi’s Australian Mortgage Monthly Wrap found CBA’s market share slipped 0.1 per cent in March to 24.2 per cent.
Despite the slip, the major retains the largest share of the owner occupied lending market with 24.2 per cent.
The story was much the same for Westpac, with the lender also recording a drop in market share – from 22.9 per cent in February to 22.8 per cent in March.
While CBA’s and Westpac’s market share fell, the market share of bank-held owner-occupied loans held by National Australia Bank and ANZ remained steady at 17.4 per cent and 16.5 per cent respectively.
NAB has performed incredibly well over the last 12 months, with the lender recording to biggest market share increase of all the lenders.
Amongst Australia’s non-majors, Bankwest continued to have the largest market share, while ING Direct continued to have the largest market share amongst the foreign banks.
Suncorp Bank, however, managed to grow its market share by the largest amount of all the non-majors – from 2.9 per cent to 3 per cent.
