Bank loan growth accelerates in April: APRA

The Australian Prudential Regulation Authority (APRA) released its monthly authorised deposit-taking institution (ADI) statistics for April 2024 and found that residential loan books across the country equated to $2.19 trillion.

This is a $9.38 billion (or 0.43 per cent) increase from March when ADIs had a total residential loan book of $2.18 trillion.

APRA’s statistics also revealed that loan books at Australia’s banks have grown $98.16 billion (or 4.69 per cent) since April 2023.

Owner-occupied loan books in April totalled $1.49 trillion, which represents a $7.14 billion (or 0.48 per cent) increase from the preceding month.

Compared to the same period last year, owner-occupied loan values have increased by $76.7 billion (or 5.44 per cent).

Investor mortgages came in at $701 billion across all ADIs in April, a $1.31 billion increase from March. Further, investor home lending increased by $20.53 billion (or 3.02 per cent) since April 2023, when investor loans equalled $680.48 billion.

A look at the big 4

Looking at the major banks’ residential loan growth, Westpac reported the most significant increase in lending compared to the previous month, holding strong following accelerated loan book growth in March.

Westpac’s loan book for April 2024 was $469 billion, a 0.64 per cent (or $3 billion) increase compared to March. Westpac also had an overall increase of 5.66 per cent (or $25.13 billion) in its residential loan book compared to the same period last year.

Westpac's owner-occupied lending book increased by 0.81 per cent (or $2.51 billion) compared to the previous month, and 7.42 per cent (or $21.47 billion) in the year.

ANZ followed behind Westpac with the most significant loan book growth of 0.44 per cent (or $1.29 billion) compared to March 2024 (when its loan book was $295 billion). ANZ, however, did have the most substantial resi loan growth percentage-wise, at 7.3 per cent (or $20.4 billion), compared to the same period last year when its loan book was $276 billion.

The Commonwealth Bank of Australia (CBA) maintained the largest loan book of $551 billion in April, with a 0.43 per cent ($2.3 billion) increase since March. CBA also had a 1.8 per cent ($9.74 billion) increase in its loan book since last year.

Macquarie Bank showed considerable growth in April, as its loan book rose to $116 billion, a 0.99 per cent increase compared to March 2024. Compared to the same period last year, Macquarie’s residential loan book grew 10 per cent (or $10.51 billion).

In owner-occupied loans, Macquarie boasted a 12.97 per cent ($8.23 billion) increase in its loan book compared to last year and a 1.09 per cent ($776 million) increase since March 2024.

National Australia Bank (NAB) had minimal movement in loan growth in April, having a residential loan book of $319.15 billion, a 0.17 per cent (or $539 million) increase compared to March.

However, compared to April 2023, NAB showed a 5.06 per cent ($10.08 billion) increase in its loan book when it was $307.5 billion.

[RELATED: Westpac loan book growth accelerates: APRA]