An analysis of the Australian Prudential Regulation Authority’s (APRA) latest monthly banking statistics has revealed that over the three months to 30 June 2019, HSBC Bank Australia’s mortgage portfolio grew $1.7 billion, from $17.3 billion to $19 billion.
HSBC outpaced its competitors in the non-major banking space and reported stronger portfolio growth than two of the big four banks, with ANZ and NAB recording contractions of $3.2 billion and $300 million, respectively.
Most of HSBC’s portfolio growth came via the owner-occupied segment, which grew $1.4 billion over the June quarter to $13.2 billion, while its investment portfolio grew approximately $300 million to $5.8 billion.
Macquarie Bank was the only other non-major to record portfolio growth that surpassed the billion-dollar mark, with its book increasing by $1.2 billion to $36.8 billion.
Macquarie’s portfolio growth was also predominantly driven by a surge in its owner-occupied book, which increased by around $900 million to $24.2 billion, while its investment portfolio grew approximately $300 million to $12.6 billion.
In total, of the 10 non-majors with the largest mortgage books, six reported increases over the June quarter.
In addition to HSBC and Macquarie, Suncorp and Citigroup each recorded portfolio increases of approximately $300 million, while BOQ and Heritage each recorded increases of approximately $200 million.
In contrast, among the non-majors, ME Bank recorded the sharpest contraction in its portfolio over the June quarter ($1.1 billion), followed by AMP Bank (approximately $500 million), Bendigo and Adelaide Bank (approximately $300 million) and ING (approximately $200 million).
However, as at 30 June, ING boasted the largest mortgage portfolio of the non-major banks ($49.1 billion), followed by Suncorp ($42.7 billion), Bendigo and Adelaide Bank ($37.6 billion), Macquarie ($36.8 billion), BOQ ($27.9 billion), ME ($20.1 billion), HSBC ($19 billion), AMP ($13 billion), Citigroup ($7.2 billion) and Heritage ($6.9 billion).
According to the Australian Finance Group’s mortgage and competition index for the June quarter – which is based off data collected by the aggregator’s network of 3,000 brokers – the collective market share of non-majors grew from 41.4 per cent to 42.3 per cent in the June quarter of 2019, and from 40.3 per cent in the same quarter in 2018.
[Related: CBA receives multibillion-dollar post-election mortgage boost]