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ANZ and Suncorp lift home loan sales

02 April 2012 4:57PM
ANZ and Suncorp are two lenders growing at above system in the home loan market over recent months, with Westpac being the lender showing a notional loss in market share.Monthly data compiled by the Australian Prudential Regulation Authority shows ANZ growing at around twice the level of the pedestrian growth in home loans of all banks, at 2.4 per cent over the last six months. Suncorp has increased its lending by the same percentage over the same period.Westpac reported growth of only 0.2 per cent in its home loan book over the last six months. The bank's market share has dropped 0.5 percentage points to 25.9 per cent over the period.On the other hand, the bank reclassified a stock of home loans as business loans in November last year. This lifted Westpac's market share of business lending, on APRA data, by more than one percentage point, to 15.6 per cent, though the bank is showing a mild decline in market share in business lending as well so far in 2012.Conditions in the home loan market remain subdued. Reserve Bank of Australia data shows system growth of 0.4 per cent for the month of February, down from 0.5 per cent from the previous month.

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