Bank recorded over 20% growth in its mortgage book in the past year, while ANZ
continue to lead the big four banks in growth.
According to the latest APRA statistics, the non-major bank recorded a total 23.3% increase in the past 12 months.
took the largest share of the $3.8 billion of housing loans sold in the past month, however.
Of the big four, ANZ
saw the fastest growth in the past year – increasing their mortgage book by 7.1% and 6.9% respectively.
Commonwealth Bank also hit above system growth with a 5.8% growth rate.
Despite its declared intention of returning to system growth, Westpac saw growth of 0.3% in October, compared with system growth of 0.5%.
Other non-major lenders also recorded strong growth in the past year, with HSBC
growing 8.6% in the past 12 months, and Suncorp
hitting 7.2% growth.
Reserve Bank figures released on Friday show that the annual rate of growth in housing finance aggregates has increased from 4.4 per cent at the start of the year to five per cent in October.
Investors are driving the growth. The value of investor housing loans increased by 0.6 per cent in October and by 6.4 per cent in the 12 months to October.