Australia’s lending market is globally renowned for its fierce competitiveness. With an impressive tally of 97 banking entities serving around 18 million clients nationwide, as per data from the Australian Banking Association, the array of financial services on offer is extensive.

These services span personal and home loans, savings accounts, credit cards, financial planning, business banking, insurance, and investment options.

Despite the multitude of banking establishments, a mere five banks dominate the mortgage lending landscape, commanding a whopping 91% share. Notably, the key players in this domain are the “big four” – Commonwealth Bank, Westpac, NAB, and ANZ – collectively holding over three-quarters of the market.

Let’s explore Australia’s Top 5 Biggest Mortgage Lenders, ranked by market share, based on the December 2020 data provided by database firm Statistica.

The 5 biggest Mortgage lenders in Australia

1 – Commonwealth Bank of Australia (CBA)

Market share: 25.73%

Gross mortgage lending: $5,548.83 billion

Gross residential mortgage lending: $3,570.02 billion

Gross investment mortgage lending: $1,888.81 billion

CBA, one of Australia’s leading multinational banks and a member of the illustrious “big four,” offers extensive financial services. Its offerings include mortgages, personal loans, savings accounts, credit cards, business banking, financial planning services, pensions and advice, insurance services, and investment vehicles.

Among CBA’s highly sought-after mortgage products, the Extra Home Loan stands out, allowing borrowers to save at the start of their mortgage with an introductory rate or benefit from a discount throughout the loan term – or even both, in the case of first-time home buyers.