Borrowers head to Commonwealth in August
The growth story in the loan market remains that of Commonwealth Bank, which lifted its lending by 1.2 per cent over the month of August 2009, four times the rate of the rest of the market. APRA data shows that Westpac’s home loan book, including that of St George, was essentially unchanged during August 2009 at $244.5 billion. However Westpac and Suncorp say the APRA figures are wrong and will present revised numbers to the banking industry regulator. Westpac's own data showed the lender increased its mortgage book by 1.9 per cent according to a report in The Australian. Suncorp says its home loan book increased by 0.6 per cent over the month of August 2009.
Source: The Sheet