Look back just three months, as winter was coming, and the major banks were handing out high cashbacks in a bid to wrest mortgage flows from their competitors. But now, as the stark reality of writing loans below the cost of capital bites, the game of thrones has been shifting. We take a look at how the market share of the big four banks has been changing, and what brokers think about them
There’s been a remarkable turnabout in the fortunes of the major banks recently. While the big four bank’s market share had been dwindling over the past few years amid stronger competition from non-majors and non-banks, the refinance boom has been the golden ticket for Australia and New Zealand Banking Group (ANZ), the Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), and Westpac Banking Corporation (Westpac).
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Annie Kane is the managing editor of Momentum's mortgage broking title, The Adviser.
As well as leading the editorial strategy, Annie writes news and features about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape.
She is also the host of the Elite Broker, New Broker, Mortgage & Finance Leader, Women in Finance and In Focus podcasts and The Adviser Live webcasts.
Annie regularly emcees industry events and awards, such as the Better Business Summit, the Women in Finance Summit as well as other industry events.
Prior to joining The Adviser in 2016, Annie wrote for The GuardianAustralia and had a speciality in sustainability.
She has also had her work published in several leading consumer titles, including Elle (Australia) magazine, BBC Music, BBC History and Homes & Antiques magazines.
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
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