ANZ says it plans to address its historically low market share in NSW with an aggressive new campaign.
A lower than usual market share in the state has been a “175-year-problem” for the bank, managing director of products and marketing Matt Boss told
Bloomberg.
Offering special rates and discounts and extending a national promotional campaign will be the first steps of ANZ’s plan to increase the bank’s market share from 11% to 13% over the next two years.
“We are actually quite bullish on larger New South Wales,” said Boss. “We expect strong economic growth there.”
The bank has expanded its home loan market share for 15 consecutive quarters to Sept. 30.
ANZ's growth in the mortgage market of 7.1% was the largest of the major banks, according to the latest APRA statistics.
