NAB and ANZ letting lenders go

NAB and ANZ bore the brunt of asset growth in banking over credit crunch and both are pulling back.

The monthly APRA banking statistics for March 2008 provide a fresh snapshot of business lending by banks.

NAB is now shedding business lending, joining St George, which has been doing so all year. NAB loans fell one per cent in March over February 2008, and is steady with three months ago.

Westpac reported growth in business lending of one per cent over a month and seven per cent over a quarter, the fastest recent rate of growth of any of the big four.

ANZ and CBA grew business assets by two per cent over a month and three to four per cent over a quarter.

NAB also cut back in lending to other lenders. The bank's assets in this category fell eight per cent in March.

ANZ cut lending to lenders by two per cent over the month.

NAB reported asset growth of 205 per cent in lender lending in the 12 months to March 2008. ANZ reported growth of 135 per cent. CBA and Westpac averaged 71 per cent.