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ANZ leads dash for household cash

01 May 2008 4:43PM
ANZ brass told reporters at last week's interim results the bank still had more work to do, to "strategically build up our retail deposit base".APRA data on household deposits for March 2008 shows that the bank is ahead for now.Over the year to March ANZ recorded the highest percentage increase in household deposits within the five major banks, or growth of 15.4 per cent to $37.9 billion.Commonwealth Bank, with a household deposit base more than double National and Westpac, and three times that of St George, had an annual increase of 13.4 per cent to $99 billion.National increased deposits by 12.9 per cent over 12 months to $47.5 billion; Westpac by 10.5 per cent to $47 billion and St George by 11.7 per cent to $33.8 billion.For the three months to March 2008, the ANZ household deposit book increased 3.8 per cent, Commonwealth 3.1 per cent, National 2.7 per cent, Westpac 2.1 per cent and St George 1.6 per cent.Of the smaller deposit-hungry foreign banks, ING increased five per cent for the year to $17 billion, BankWest 5.6 per cent to $13.1 billion and Rabobank tripled from a very small base to $753 million.

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