Mutual ADIs report on growth
Industry lobby Abacus group yesterday released quarterly data that aims to extend the corresponding series from APRA (which was also published yesterday) on the small deposit-taking sector.Abacus said that on its measures the "customer owned banking sector", including credit unions, building societies and mutual banks recorded asset growth of 4.5 per cent over the year to June 2012. Housing loan growth was 5.1 per cent and deposit growth was seven per cent.The data for the Australian Prudential Regulation Authority shows lower growth levels on all measures, however.By comparison, banks reported housing loan growth of 5.4 per cent over the year to June and growth in deposits of 9.6 per cent.APRA's data on the sector no longer includes the five credit unions and one building society that now use the label mutual bank. APRA now includes this group in a separate sector analysis of banks.The Abacus analysis includes the one listed building society in APRA's base data for the sector, Wide Bay. Abacus does not include MyState Financial or Goldfields Money (both listed entities that APRA still rolls up with credit unions).