HSBC’s residential mortgage book grew by $500 million in April, representing the largest growth among the non-major banks.
The Australian Prudential Regulation Authority’s (APRA) latest monthly banking statistics for April revealed that HSBC has once again outperformed its non-major peers on mortgage growth, with its portfolio expanding by $500 million, or 2.88 per cent, to $17.89 billion.
HSBC’s owner-occupied loan book grew by $420 million to $12.3 billion in April, while its investment portfolio expanded by $76 million to $5.58 billion.
Macquarie also saw substantial growth in its mortgage book in April, which increased by $337 million, or 94 basis points, to $36.02 billion.
The non-major bank’s portfolio of owner-occupied home loans grew by $244 million to $23.55 billion, while the total value of investment loans increased by $93 million to $12.47 billion.
Meanwhile, a $230 million, or 2.16 per cent, increase was seen in ME’s residential assets, with the value of its portfolio standing at $21.5 billion at the end of April.
The value of ME’s owner-occupied loans was $180 million greater than the figure recorded in March, going from $15.86 billion to $16.04 billion, while its investment loan portfolio grew by $50 million over the month to $5.46 billion in April.
Suncorp and BOQ (formerly Bank of Queensland) also recorded residential loan growth in April, with their portfolios rising by $32 million, or 7.5 basis points, to $42.51 billion and by $6 million, or 2.2 basis points, to $27.75 billion, respectively.
Suncorp saw a $59 million increase in its owner-occupied book, which stood at $30.82 billion at the end of April. However, its investment book thinned by $27 million to $11.7 billion.
BOQ’s owner-occupied and investment portfolios saw similar mixed movements, with owner-occupied loans growing by $7 million to $16.41 billion, and investment loans decreasing by $1 million to $11.33 billion.
Bendigo and Adelaide Bank saw a $279 million increase in the size of its residential mortgage portfolio, which sat at $38.2 billion at the end of April.
According to APRA’s stats, Bendigo and Adelaide Bank’s owner-occupied loan book grew by $150 million to $25.35 billion in April, and its investment loan book by $129 million to $12.85 billion.
Meanwhile, AMP Bank grew its mortgage book by $151 million, or 1.11 per cent, to $13.8 billion in April. The size of its owner-occupied loan portfolio at the end of April was $10.27 billion, up $91 million from the previous month, and its investment loan portfolio increased by $60 million to $3.53 billion.
Citigroup’s residential loan book expanded by $49 million, or 69.9 basis points, to $7.06 billion. Owner-occupied loans was up by $50 million to $4.86 billion, while investment loans were down slightly by $1 million to $2.2 billion.
However, ING Bank Australia recorded a decrease in the size of its residential mortgage portfolio of $87 million, or 17.6 basis points, to $49.32 billion in April. Owner-occupied loans were down $37 million to $39.56 billion, while investment loans were down $50 million to $9.76 billion.
Among the big four banks, ANZ experienced the largest decrease in residential loans, with its portfolio shrinking by $621 million over the month to $256.31 billion. Owner-occupied loans were down by $169 million to $178.29 billion, while investment loans were down $452 million to $78.02 billion.
The APRA data revealed that NAB’s mortgage portfolio also thinned in April, contracting by $184 million to $261.1 billion.
The size of its investment home loan book decreased significantly by $343 million to $105.04 billion, which was offset by $159 million growth in its owner-occupied book to $155.9 billion.
The Commonwealth Bank of Australia (CBA) is continuing to outpace its big four peers in residential mortgage growth, with its portfolio – which includes loans settled by its subsidiary Bankwest – increasing by $1.72 billion to $431.53 billion.
Most of CBA’s portfolio growth was driven by a $1.53 billion rise in its owner-occupied book, which grew to $298.44 billion, while its investment home loan portfolio rose by $189 million to $133.1 billion.
Westpac and its subsidiaries (Bank of Melbourne, BankSA and St George Bank) also reported strong portfolio growth of $1.2 billion in April, with the group’s total book increasing to $415.88 billion.
Westpac’s portfolio growth was also largely driven by a rise in its owner-occupied book, which increased by $1.01 billion to $263.29 billion, while its investment home loan book grew by $195 million to $152.59 billion.
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Tas Bindi is the features editor for The Adviser magazine. She writes about the mortgage industry, macroeconomics, fintech, financial regulation, and market trends.
Prior to joining Momentum Media, Tas wrote for business and technology titles such as ZDNet, TechRepublic, Startup Daily, and Dynamic Business.
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