The country’s largest lender, Commonwealth Bank, has extended its dominance of the mortgage market at the expense of Westpac, adding just under $16 billion to its loan book in five months.
That growth means that CBA now accounts for 25.4 per cent of all bank lending to households, extending its march on the competition after a high-profile retreat from the so-called mortgage wars to preserve profits.
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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com