A report says that the regional banks have got more business and made more money out of the mortgage broking segment. They have replaced the big players and have managed to get the larger market share, reports Market Intelligence Strategy Centre.

The research done by the consultancy firm shows that the two regional banks- BankSA and Bank West, in particular, have increased their share at the expense of others.

Surprisingly, they have managed to do so even when the market for this type of banking has decreased.

As per the data, regional players bagged 24.1 per cent of the market share for the quarter ending December, 2009 as against 20.1 per cent for the same period last year.

It further states that the smaller non-banking players have re-emerged even as the larger lenders have provided green-field funding and have come up with more broker-specific offerings.

It further stated that the brokering business also under went consolidation.

Chris Ward, General Manager of BankSA said that the regional banks have got the benefit of their local presence. Their better service offering has brought more customers.