Aussie banks’ loan books grow over $100bn over the year

APRA’s Monthly Authorised Deposit-taking Institution Statistics has revealed strong growth for Aussie banks.

Between June 2023 and June 2024, loan books for ADIs across the country grew from 2.11 trillion to 2.22 trillion, a total increase of around $101 billion or 4.8 per cent.

Even compared to May, June saw a decent rise, climbing from $2.20 trillion, pushing numbers up 0.7 per cent.

Owner-occupier loans led the charge, with a June 2024 total of $1.51 trillion in loans. This was up 0.71 per cent from May, which had a total of $1.5 trillion.

Once again, the yearly increase was significant for owner-occupier loans, climbing $77 billion year on year or 5.4 per cent.

Investment properties also saw an increase, yet not quite as substantial as owner-occupiers. The June 2024 loan total was $710 billion, up 0.6 per cent from the month prior.

This was a $23 billion increase on June 2023, with loan figures for investment properties up 3.4 per cent over the year.

How the majors (and Macquarie) fare

Helping drive these stats were the big four and Macquarie. Each saw a decent rise in loan books over the year, with some growing faster than others.

The total loan book numbers in June 2024 for each of the large banks were:

1. CBA: $559 billion
2. Westpac: $475 billion
3. NAB: $320 billion
4. ANZ: $300 billion
5. Macquarie: $120 billion

Compared to June 2023, CBA’s numbers were up by around $13 billion. The bank has by far the largest total in loans.

Westpac, however, recorded the biggest yearly increase in loan books, reaching a total of $475 billion. This was a substantial increase of $26 billion over the year.

NAB saw a decent increase, too, climbing from $310 billion to $320 billion. Macquarie continued these growth trends, climbing from $107 billion to a total of $120 billion over the year.

ANZ saw decent rise, climbing by $20 billion to reach a total of $300 billion in the month of June. However, the acquisition of Suncorp also gives way to an extra $53 billion in loans. Coupled with the bank’s existing loans, the total will be brought to $353 billion, pushing NAB down to fourth place.

How do these numbers compare percentage-wise? Broken down, the yearly increases tell a different story:

• Macquarie: Growth of 12.5 per cent
• ANZ: Growth of 7.1 per cent
• Westpac: Growth of 5.8 per cent
• NAB: Growth of 3.3 per cent
• CBA: Growth of 2.3 per cent

Macquarie continues to experience substantial growth, edging closer to the big four every year. CBA, while having the largest total loan numbers, experienced the slowest growth over the year.

[Related: Total ADI loan book increases over $10bn]

Jack Campbell is the editor of Broker Daily. After graduating from the University of Wollongong in 2022, Jack began his journalistic career working on Broker Daily’s sister brand, HR Leader. In August 2023 he was made the news editor and worked alongside some talented journalists writing articles and recording podcasts.

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