Westpac records fastest lending growth

In February the fastest growth in lending among Australia's big banks was recorded by Westpac. According to the Australian Prudential Regulation Authority (APRA) Westpac is taking market share from its rivals with an annualised growth rate of 17 per cent. The bank's share of the annual $85.1 billion plus market increased to 17.7 per cent in the first quarter of this year, from just 8.3 per cent in the same period a year ago. During February ANZ recorded the fastest rate of growth in the credit card market, growing 2.8 per cent.