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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.

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“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.

 

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