Kiwi, BNZ and ASB gained mortgage market share in June qtr
Kiwibank continued to gain market share of mortgages in the June quarter, along with BNZ and ASB, while both ANZ and Westpac lost market share.
Wednesday, August 27th 2025, 9:53AM
by Jenny Ruth
The Reserve Bank’s bank financial strength dashboard shows Kiwibank lent a net $626 million on new mortgages in the three months ended June, 11.2% of total net new bank lending on mortgages in the quarter, compared with its market share at June 30 of 7.89%.
At June 30, 1% of the market was worth $3.74 billion and Kiwibank’s market share has climbed from nearly 7.6% in June 2024.
In the year ended June 30, Kiwibank’s net mortgage lending rose by $2.53 billion, accounting for nearly 13.7% of total net new bank lending on mortgages in the 12 months.
That eclipsed Westpac’s $2.48 billion of net new mortgage lending in the latest year, although Westpac lent more in the June quarter at $717.7 million.
Westpac’s market share was 18.64% at June 30, down from 18.9% a year earlier.
BNZ lent $995.3 million in net new mortgages in the June quarter, 17.8% of total new bank lending on mortgages, and $3.55 billion in the year ended June 30, 19.1% of total net new mortgage lending by registered banks.
BNZ’s market share has risen to 16.89% at June 30 from 16.8% a year earlier.
ASB had lost market share through 2023 as it tried to protect its profit margins but it continues to make up for that with net new lending on mortgages in the latest quarter of 1.53 billion, 27.47% of total new bank lending on mortgages compared with its market share at June 30 of 21.22%.
ASB lent $4.91 billion on net new mortgages in the year ended June, 26.5% of the total.
ANZ lent $1.51 billion in the latest three months, 27% of total net new bank lending on mortgages, while its market share at June 30 was 30.1%, down from 30.4% a year earlier.
In the year ended June 30, ANZ’s net new mortgage lending was $4.38 billion, 23.6% of net new bank lending on mortgages.
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