Find out which bank had the largest increase in loan book
The total value of housing loans across authorised deposit-taking institutions (ADIs) continued to rise in December, increasing by $12.3 billion (0.5%) month-over-month and by $115.7 billion (5.4%) over the past year, according to the latest data from the Australian Prudential Regulation Authority (APRA).
Among the major banks, the Commonwealth Bank of Australia (CBA) recorded the largest increase in its residential mortgage portfolio, adding more than $3.1 billion (0.55%) in December. Over the past 12 months, CBA expanded its mortgage book by $32 billion (5.9%), significantly outpacing its rivals.
Westpac’s residential mortgage book grew by nearly $18 billion (3.9%), ANZ’s by $17.7 billion (6.1%), and NAB’s by $9.6 billion (3%) over the same period.
Macquarie Bank also continued its strong push into the mortgage market, growing its residential loan book by over $17 billion year-on-year, a notable gain for a challenger bank.
The APRA data also highlighted strong growth in household savings. The total amount held in household deposits reached $1.57 trillion in December, reflecting a $301.4 billion increase since the Reserve Bank of Australia (RBA) began raising interest rates in April 2022.
Despite December being a peak spending season, Australians deposited an additional $21.9 billion into savings accounts during the month.
“Money in the bank has continued to climb in December, despite the fact many people were feeling the pinch at what is an extremely expensive time of year,” said Canstar.com.au data insights director Sally Tindall (pictured above).
“The total residential mortgage market has continued to grow steadily, increasing by over $12 billion in December. CBA still holds the crown for growth among the big four banks, increasing its residential mortgage book by a staggering $32 billion compared to December 2023. In dollar terms, that’s almost double the growth of Westpac and ANZ and more than three times the growth of NAB.”
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