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ANZ leading the charge

by Michael6 minute read

New figures from the Australian Prudential Regulation Authority (APRA) show that ANZ is growing its mortgage books faster than any other major lender.

APRA’s Monthly Banking Statistics show that while ANZ was ranked fourth in terms of lending for owner-occupiers and investors in August, the lender has made a noticeable push to claim a larger slice of the market, growing by 7 per cent.

This compared with 5 per cent growth for CBA and NAB, and 2.7 per cent for Westpac, according to analysis from brokers at Macquarie.

The push comes after the major lender lowered its standard variable rate to equal NAB at 5.88 per cent.

Westpac’s decision to keep the highest SVR of the majors has deeply impacted the lender's performance in the mortgage market, being ranked as the slowest of the big four, despite a 28 basis point cut last month.

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