Credit Score
Australasia Banks Fintech

Credit Score Data Reveals How Australia’s Big Four Banks Lend Money to Different Generations

Finty, a financial comparison website, have recently released an in-depth analysis of anonymised data from its Australian credit score service. The report has discovered that the ‘Big Four’ banks in Australia; Commonwealth Bank of Australia (CBA), Westpac Banking Corporation, Australia and New Zealand Banking Group (ANZ) and National Australia Bank (NAB), have very different approaches when it comes to making credit available to their customers of different generations (via home loans, personal loans and credit cards.)

With the pandemic bringing about precarious financial situations in economies all over the glove, Finty aimed to help Australians to know which banks to turn to for their financial needs to get through the crisis, for example, understanding which bank is most likely to approve their credit card application.

In terms of how lending is distributed by generation, three of the Big Four concentrate a large percentage of their lending among generation Y.2, born between 1981 and 1989, and Generation X. CBA, however, offers 27.6% of their total lending products to then Gen Y.1 age group, born between 1990 and 1996, a larger proportion than via the other banks. They also offer a larger percentage of loan services to Gen Z than other banks, indicating that CBA is more popular with young people.

This is also confirmed when looking at CBA’s credit card services, as it is the only bank to provide over 30% of its services to Gen Y.1 and 9.3% to Gen Z – higher shares than the other banks who tend to focus their services among older generations. However, in personal loans, CBA goes against their skew towards younger generations and instead grant a larger portion of their services to Gen Z and Gen Y.1.

Westpac, ANZ and NAB tend to distribute the largest share of personal loans among Gen X, Gen Y.2 and Gen Y.1. Westpac directed 39.8% of its personal loans to Gen X, the largest portion that any bank provided to any one age group. This potentially indicates that they are more conservative in their loan services, preferring to lend to age groups that are likely to have greater financial stability. Finally, CBA and ANZ provided a noticeably larger portion of their personal loans to Gen Z than Westpac and NAB.

To read the full report click here.


  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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