Powered by MOMENTUM MEDIA
subscribe to our newsletter

ANZ says broker ‘ownership’ not in sight

ANZ will not acquire third-party businesses to bolster its share of the mortgage market despite having the smallest loan book of the major banks.

The lender will instead focus its efforts on building a branch network of accredited loan writers.

While ANZ’s strategy is to provide the best possible proposition to brokers and aggregators, it does not view ownership as relevant to that discussion, ANZ head of product management – home loans, Angus Gilfillan told Mortgage Business.

“ANZ has grown market share consistently every quarter for the last 17 quarters and has been the fastest-growing bank for the last 12 months,” Mr Gilfillan said.

“We have achieved this growth through a ‘customer in’ approach and through Banking on Australia, a five-year investment program designed to respond to the changing needs and expectations of our customers,” he said.

Advertisement
Advertisement

“As part of this program we’ve been making important changes to deliver an improved customer experience.

“For example we’ve focused on building the capability of our frontline team with around 70 per cent of our branch sales staff now accredited to meet our customers’ home loan needs.”

In the 12 months to May 31, ANZ grew its loan book by 7.7 per cent to $321.7 billion.

Mr Gilfillan said the bank will continue to invest in its broker proposition.

 

PROMOTED CONTENT


ANZ says broker ‘ownership’ not in sight
mortgagebusiness

Latest News

The major bank’s chief has apologised to customers, admitting far-reaching systemic issues led to each of the six matters presented in new...

Several lenders, including major banks, have offered loan repayment relief and fee waivers for NSW and Queensland residents impacted by floo...

The Federal Court has ordered La Trobe Financial Asset Management to pay a $750,000 penalty for “false and misleading marketing” of the ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think APRA's bank buffer changes will see more borrowers use non-banks?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.