Competition among the country’s largest banks for new mortgage customers is “diminishing” as the major lenders, along with Macquarie, consolidate their positions in the market.
That was the view of banking analysts at Citi, who told client that regional banks will struggle with market share declines and lower margins.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
