ASB CEO Emphasizes Steady Approach Over Market Share

ASB Chief Executive Vittoria Shortt highlights the importance of consistency in the bank's approach to mortgage lending, particularly through mortgage advisers. Over the past eight quarters, mortgage advisers have consistently generated 55-60% of ASB's home loans. Despite recent Reserve Bank OCR cuts, Shortt emphasizes that ASB is not focused on chasing market share, as seen when they reduced home loan rates while other banks limited rate cuts to floating rates. Shortt believes that pursuing market share can lead to short-term decisions that harm long-term stability. Instead, ASB aims to maintain a steady presence, competitive service, and appropriate credit settings, resisting fluctuations that come with aggressive market share strategies.

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