NAB and ANZ stride ahead in home loans
National Australia Bank continues to grow at above market share in the home loan market, with a rise of one per cent over the month of June and an increase in its book of 9.1 per cent over a year, according to the latest Australian Prudential Regulation Authority banking statistics.This is almost four times the rate of growth of Westpac, which allowed its market share to decline over the year. NAB's growth rate is also double that of Commonwealth Bank's. The latter also grew more slowly than the rest of the market.ANZ matched NAB's growth rate over the last year, at 9.0 per cent, but put the dampeners on in June.Macquarie had a strong couple of months regarding home loans, up 2.9 per cent over one month and up 3.6 per cent over two.Suncorp increased its home loan book by 1.1 per cent over one month and by 2.2 per cent over two.Overall, the APRA figures show and improving trend in the mortgage and business lending markets. For the three months to the end of June mortgage balances increased by 1.6 per cent - an annuaiised rate of 6.4 per cent. For the 12 months to June, growth was 5.4 per cent.In business lending, balances grew 1.9 per cent for the three months to June - an annualised rate of 7.6 per cent. For the 12 months to June, growth was 7.3 per cent.Growth in retail deposits continued to outstrip lending. Bank retail deposits increased by 9.6 per cent over the 12 months to June.However, business deposits increased by only 3.6 per cent in the year to June.