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Contrasting growth stories for new third-party lenders

by Nick Bendel7 minute read
The Adviser

New lending statistics have revealed big gains for Bank of China but only minimal growth for Bank of Sydney.

Bank of China had $672 million of owner-occupier and investor loans on its books as of 30 September 2014, according to APRA data.

That marked an 18.5 per cent increase on the previous year.

Bank of China's strong growth was driven by a 23.9 per cent jump in the investor book to $405 million.

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However, the portfolio of owner-occupier loans fell 1.1 per cent to $267 million.

Bank of Sydney ended September with $333 million of owner-occupier and investor loans.

Owner-occupier loans remained steady at $111 million, while investor loans climbed 1.4 per cent to $222 million.

Bank of China entered the third-party channel last week, while Bank of Sydney is currently conducting a "soft launch" of its broker business ahead of a full launch in early 2015.

[Related: Investor lending grows 10.2pc]

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