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MyState doubles investor loan book

MyState Bank has more than doubled the size of its investor loan portfolio over the past year, while five other third-party banks have posted double-digit growth.

According to the most recent monthly banking statistics released by APRA, MyState Bank’s investor loans increased by 117.5 per cent over the year to February 2016 – the largest growth of any third-party bank.

Meanwhile, Macquarie Bank’s investor portfolio grew by 31.2 per cent over the same 12-month period, while Teachers Mutual Bank increased its investor book by 30.8 per cent.

P&N Bank experienced a 24.2 per cent rise in investor volumes during the period, while Bank of Sydney’s investor portfolio grew by 18.8 per cent and Bank of Queensland’s (BOQ) grew by 11.3 per cent.

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Westpac was the only third-party bank to experience a double-digit decline for investor loans, at 10.0 per cent for the period.

MyState also led the third-party players for owner-occupier loan growth in the 12 months to February, recording a 54.6 per cent increase.

Bank of China experienced the next biggest increase, with a 37.9 per cent rise in owner-occupier loans, followed by Macquarie (31.5 per cent) and Westpac (22.4 per cent).

AMP Bank’s owner-occupier portfolio grew by 24.6 per cent, while BOQ’s portfolio grew by 17.5 per cent and ANZ’s grew by 15.1 per cent.

The other third-party banks that witnessed double-digit growth in owner-occupier loans during the 12-month period were Teachers Mutual (14.8 per cent) ME (14.4 per cent), P&N Bank (13.5 per cent) and Bendigo and Adelaide Bank (10.9 per cent).

[Related: Heritage hungry for more investor loans]

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