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Growth

Mortgage books keep growing and growing

by Nick Bendel9 minute read
The Adviser

All the main third-party banks increased their loan books during 2013/2014, according to new APRA data.

Macquarie Bank made the biggest move during the last financial year, with its loan book growing 37.8 per cent year-on-year to $24 billion.

ME Bank also enjoyed a strong year, jumping 17.3 per cent to $11.4 billion.

AMP Bank added 9.1 per cent to $10.3 billion, while Bendigo & Adelaide Bank rose 8.9 per cent to $42.9 billion.

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ANZ climbed 7.5 per cent to $323.2 billion and Commonwealth Bank grew 7 per cent to $493.1 billion.

Westpac increased its loan book by 6.5 per cent to $440.4 billion, while NAB grew 5.7 per cent to $370.8 billion.

Suncorp Bank was up 5.4 per cent to $46.4 billion and Citigroup jumped 4.1 per cent to $14.1 billion.

ING DIRECT climbed 3.8 per cent to $41.3 billion and Bank of Queensland added 0.3 per cent to $29.2 billion.

Meanwhile, Bank of Queensland confirmed that it had completed the purchase of Investec Bank’s professional finance and asset finance and leasing businesses.

Chief executive Stuart Grimshaw said the $440 million acquisition would bring diversification and scale benefits.

The completion of the acquisition followed a $400 million capital raising initiative in May.

[Related: APRA stats for May]

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