ANZ discounts target NSW market share

[SYDNEY] Australia & New Zealand Banking Group (ANZ), the fastest-growing mortgage lender in October, plans to offer bigger discounts to expand market share in New South Wales, where it lags behind its three rivals.

The lender will also tailor marketing to boost its mortgage share in New South Wales, which is the largest state economy in Australia, from 11 per cent to 13 per cent in two years, said Matt Boss, managing director for products and marketing.

Melbourne-based ANZ's national share is 15 per cent, the smallest among Australia's big four banks.