AMP and Adelaide Bank growing mortgage book

AMP, Bendigo, and Adelaide Bank maintained their above average growth in home loans in February 2011 – a month in which the rate of growth in lending continued to moderate across all lenders.

AMP reported growth of more than two per cent during the month, or more than four times the average rate of growth (for banks and lenders) of a shade less than 0.5 per cent. Bendigo reported growth of 1.05 per cent over the month, which may reflect the pick-up in lending through mortgage managers.

National Australia Bank reported growth of 0.95 per cent, the highest of the major banks. This may reflect the success of lending through Choice, Fast and Plan, rather than its branch network.

Of the other majors, ANZ and Westpac reported monthly growth around system, while CBA, which priced itself at the top of the market in December, reported a growth rate of around half system.

Source: Banking Day