UBank helps NAB grow mortgage sales
National Australia Bank continues to grow at well above system in the home loan market.
Australian Prudential Regulation Authority data shows that NAB increased its home loan book by 0.8 per cent in July – twice the rate of growth of housing credit overall. NAB has maintained this rate of growth across the last three months.
The primary driver of this growth may still be third-party home loan origination, through the bank’s Advantedge division, rather than growth through the bank’s own branches and direct channels. Advantedge, for example, is the funder of NAB’s UBank branded home loans.
Source: Banking Day