Australian Banks Appear Proactive on Customer Retention -- Market Talk

Dow Jones10-11

2210 GMT - Australian banks appear to be making efforts to retain existing home-loan customers, Macquarie analysts say after surveying the country's mortgage brokers. The analysts point to responses indicating that 30% of customers have renegotiated their mortgages over the past six months, which is a higher percentage than a year earlier. About 25% of customers are also on lower rates than those offered to new borrowers, the analysts tell clients in a note. Commonwealth Bank's Bankwest, Westpac and Bendigo and Adelaide Bank are perceived as those most favorably disposed to renegotiation, Macquarie adds. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

October 10, 2024 18:11 ET (22:11 GMT)

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Commonwealth Bank's Bankwest, Westpac and Bendigo and Adelaide Bank are perceived as those most favorably disposed to renegotiation, Macquarie adds. 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The analysts point to responses ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WBC.AU","symbol_name":"WESTPAC BANKING CORPORATION","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2474703473","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474703473","pubTimestamp":1728598260,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2210 GMT - Australian banks appear to be making efforts to retain existing home-loan customers, Macquarie analysts say after surveying the country's mortgage brokers. 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