The Australian Finance Group has reported rapid growth in its company-branded loans, which are funded by NAB.AFG, in its annual report for 2012, said it had funded A$211 million in new loans under this program over the last financial year, up from $39 million the year before. Loans under management under this program are now around $400 million, up from $100 million a year earlier.The home loan broking group put average monthly growth in lending under the AFG label at 19 per cent.AFG is also faring well in its traditional mortgage broking business.Brett McKeon, the chief executive, estimated yesterday that the group accounted for 12 per cent of the national mortgage market in some months of the past year.AFG more than doubled its net profit after tax in the year to June 2012, from $9.1 million to $19.0 million. Profit before adjusting for the fair value of its residential trailing commissions lifted to A$22.6 million, from $17.4 million in 2010-2011. AFG is shifting its business focus, with property development in its home town of Perth now being more of a focus.In its annual report, it said that "the residential [lending] business remains the underwriter of the growth opportunities regularly presented to the group. "Our desire to grow the AFG Home Loans business, and as a consequence AFG Securities business, continued to gain momentum during the year."It said the property development business "had some success during the year, particularly with sales within the Lilydale development generating sufficient cash to repay the original investment."AFG has also entered into a new development, in East Fremantle.