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Housing loans drive banks? growth

Staff Reporter 1 minute read

Australian banks registered a 22.3 per cent growth in total assets over the year to December 31st 2007, APRA announced today in its quarterly bank performance report.

According to the report, the growth was largely driven by total housing loans – which accounted for 51.5 per cent of total gross loans and advances of the banks.

Total housing loans increased by 12.3 per cent over the year to $829.9 billion.

Net interest income for the 12 months to December 2007 amounted to $39.9 billion, the four major banks accounted for 76.7 per cent or $30.6 billion of this figure.

Published: 24-06-08

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