Westpac loaded up on home loans in the Dec Qtr after a quiet period
That made Westpac the second largest player in the market in the latest quarter behind only ANZ Bank NZ which lent a net $1.26 billion in new loans, although that was a pullback from $1.49 billion in the September quarter.
ANZ, the largest bank, was by far the biggest mortgage lender in calendar 2023 with a net $4.23 billion in new loans, well in front of the next largest lender, Bank of New Zealand with $2.77 billion. BNZ's new home loans in the December quarter were a net $652.8 million.
Westpac's net new mortgage lending for the year was $1.5 billion.
ANZ's market share grew from 30.31% to 30.47% over the year, Westpac's fell from 19.23% to 19.01% and BNZ's grew from 16.48% to 16.72%.
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