by Jenny Ruth
Using Reserve Bank figures on the size of the mortgage market, that gives ASB 22.6% of the market compared with 22.1% at the end of March.
ANZ Bank and National Bank continued to grow their combined mortgage books (they no longer provide figures for each bank) by $662 million to $33.02 billion, not as fast as the overall market. Their market share slipped from 36.2% at the end of March to 35.6% at the end of June.
v The only bank which didn’t grow its mortgage book in the June quarter was HSBC – its book fell marginally to $2.87 billion and its market share slipped from 3.2% to 3.1%.
HSBC’s mortgage has shrunk each quarter since it bought AMP’s mortgage book from March 31, 2003 but the latest figures suggest its position is stabilising.
Bank of New Zealand anti-mortgage broker campaign doesn’t appear to be hurting its market position any. Its mortgage book grew $676 million to $14.83 billion at the end of June, boosting its market share from 15.8% at the end of March to 16%.
Westpac’s market share remained rock steady at 20.5% (its mortgage book growing from $17.49 billion to $18.16 billion in the quarter) as did TSB Bank’s at 1.3% (its mortgage book growing from $1.19 billion to $1.23 billion in the quarter).
Kiwibank’s mortgage book continues to grow faster than the market, its market share edging up from 0.99% at the end of March to 1.1% at the end of June. But to put that in context, its entire $1.02 billion mortgage book is less than the $1.17 billion ASB added to its book in the quarter.
The Reserve Bank figures show the overall market grew 3.6% in the June quarter and by 16.5%, or $13.1 billion, in the year ended June.
| « Slowdown may make banks love brokers: AMBL | Fixed rates popular with borrowers » |
Special Offers
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved