Turn around for Bankwest

Bank of Western Australia increased its market share of household deposits faster than any other bank during the month of April 2009, with a rise in deposit levels of five per cent.

Bankwest's market share had slid steadily over the six months prior, raising questions about its value to the bank's new owner, Commonwealth Bank.

Among the big banks ANZ increased its household deposit base by more than $1.2 billion over April $57.57 billion, outpacing growth at Commonwealth Bank, Westpac and NAB.

On the other hand a couple of banks with market-leading deposit offers in the market, such as AMP and Rabobank, showed only marginal growth in deposits during the month.

Source: APRA