Mutuals see industry growth
Industry lobby the Abacus Group released quarterly data yesterday that aims to extend the corresponding series from APRA to the small deposit-taking sector.The APRA data, also published yesterday, does not include mutual banks. Abacus adds these institutions back in.Abacus said that when mutual banks are included the figures show that for the year to September 2012 the small ADI sector recorded "above market housing loan growth" of 5.2 per cent and also reported deposit growth of 5.8 per cent.Banks recorded home loan growth of more than seven per cent and growth in deposits of more than 10 per cent over the last year.APRA put the combined net profit for credit unions at A$286 million and for building societies at $117 million. It put the return on assets for small ADIs at 0.5 per cent over the year.