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Banks continue to increase mortgage volumes

by Staff Reporter6 minute read

Australian lenders have recorded significant increases in loan volumes in the past year, according to new APRA data.

The country’s authorised deposit-taking institutions reported combined housing loan volumes of $1.2 trillion for the 12 months to 31 March 2014 – 8.2 per cent higher than the year before.

The lenders held 5 million outstanding housing loans, with an average balance of $235,000.

Commercial property exposures also grew by 6.8 per cent to $224.8 billion, according to APRA.

Australia’s lenders have continued to be highly profitable, with net profits jumping 20.9 per cent to $32.1 billion.

Total assets also rose 8.6 per cent to $4 trillion, while impaired assets and items past due declined 13.3 per cent to $33.6 billion.


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