by Jenny Ruth
Friday 7th October 2005
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Using Reserve Bank figures, that means the bank's share of the mortgage market dropped to 2.02% from 2.09% at the end of March and 2.49% at the end of June last year.
The central bank's figures show the total mortgage market (excluding Superbank) grew $3.8 billion to $107.16 billion in the June quarter.
HSBC has been losing market share since June 2003 when it bought AMP's $1.8 billion mortgage book. At the end of June 2003, it reported its mortgage book was $3.02 billion.
Hongkong bank's profitability also suffered during the June quarter, falling 4.6% to $5.6 million from the same quarter last year and from $8.25 million in the March quarter.
The bank's total assets also slipped to $6.4 billion at the end of June from$6.42 billion at the end of March but were up on the $6.29 billion at the end of June last year.
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