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Macquarie keeps surging as MyState makes its debut

by Nick Bendel4 minute read
The Adviser

Australia's newest bank ended October with $1.3 billion in owner-occupier loans on its books.

MyState Bank is now included in APRA's monthly analysis of authorised deposit-taking institutions after transitioning in October from its previous incarnation as MyState Financial.

The best-performed major bank over the past year was ANZ, which increased its owner-occupier loan book by 7.0 per cent to $141.2 billion.

NAB rose 6.9 per cent to $157.0 billion; Commonwealth Bank climbed 5.6 per cent to $229.5 billion; and Westpac grew by 4.8 per cent to $180.9 billion.

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Bendigo & Adelaide Bank was the big mover among the four regional banks, jumping 14.1 per cent to $19.1 billion.

There were also increases for the other regionals – ME Bank up 11.3 per cent to $7.9 billion; Suncorp Bank up 5.0 per cent to $24.8 billion; and Bank of Queensland up 5.0 per cent to $13.0 billion.

Macquarie Bank was the star performer among the other leading non-major banks: its owner-occupied loan book surged by a massive 64.4 per cent to $11.7 billion.

AMP Bank climbed 10.0 per cent to $6.1 billion and Citibank rose 8.0 per cent to $5.8 billion. However, ING Bank fell 0.6 per cent to $27.1 billion.

The mutuals all grew, with Teachers Mutual Bank up 9.2 per cent to $2.5 billion; P&N Bank up 8.9 per cent to $1.6 billion; and Heritage Bank up 1.9 per cent to $3.3 billion.

There were contrasting performances by Australia's two newest third-party lenders. Bank of Sydney grew 1.0 per cent to $111.2 million, while Bank of China dropped 3.3 per cent to $260.5 million.

[Related: Brokers have made us a better bank, says Teachers Mutual]

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