ASB continues its grip on home loan market

Wednesday 13 October 2004

ASB Bank continued to be the major winner in the mortgage market in the June quarter, grabbing 35.9% of the $3.26 billion in net new mortgages written in the quarter.

By The Landlord

It’s latest disclosure document shows it had $20.9 billion in loans secured by residential mortgages at June 30, up from $19.77 billion three months earlier.

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.

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