01 June 2016
Latest figures on banking have revealed more Australian families are taking out home loans with the customer owned banking model. Figures released by APRA and RBA show the customer owned banking sector significantly outpaced the market in home loan balance growth over the March 2016 quarter.
“These figures are encouraging because they indicate Australians are alive to the benefits that customer owned banking offers,” COBA CEO Mark Degotardi said. “People are looking at our model favourably because we offer competition and choice, diversity and a genuine alternative”, added Mr Degotardi.
Customer owned institutions had double the housing loan growth rate of the largest four banks in the market.
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