SMALL banks and lenders are slowly winning a larger share of home loans as competition increases in the banking market, treasury officials say.
Treasury markets group executive director Jim Murphy says the government's banking competition package is gaining momentum with borrowers.
In December 2010, Treasurer Wayne Swan announced measures to boost competition including allowing borrowers to switch their home loans without a large exit fee.
"It has stopped the growth of the market share of the majors (banks)," Mr Murphy told a senate estimates hearing in Canberra on Thursday.
"The smaller ones are coming back to recoup some of that market share."
The big four banks - ANZ, Commonwealth, NAB and Westpac - gained a greater share of the home lending market at the expense of smaller financial institutions following the global financial crisis.
Mr Murphy said home lending among the smaller banks had grown at more than three times the rate of the major banks in the year to November 2012.
The big banks' home lending share fell by one percentage point in that time, he said.
There have been about 7000 loan switches from one institution to another in the past six months, Mr Murphy said.
While there has been a boost in home lending for the small banks, the gap between the demand for houses and the number of premises available was estimated to have increased by 28,000 dwellings in the year to June 2011.
Treasury infrastructure general manager Brenton Thomas said the shortfall has been growing larger since 2001.
Mr Murphy said key factors causing the shortfall were planning rules and the release of land by state governments.
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