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.
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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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