Westpac loses market share in housing, business loans
08 July 2003 12:00am
Westpac yesterday disclosed that it lost market share in the home loan market and in business banking in the two months to May 2003, but gained market share in personal banking. In a presentation to an investor conference organised by Deutsche Bank in London, Westpac's chief financial officer Phil Chronican disclosed that:
• the bank's share of housing loans declined from 17.9 per cent of the market as of March 2003 to 17.8 per cent at May 2003.
• the share of personal lending increased from 11.5 per cent as of March 2003 to 12.1 per cent as of May 2003.
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