subscribe to our newsletter

Auswide reports ‘acceleration’ in mortgage growth

The Queensland-based lender has reported strong growth across its mortgage portfolio as it expands its reach across the country.

Auswide Bank has released a business update ahead of the close of the 2019 financial year, reporting an “acceleration” in mortgage growth, a decline in arrears, and an improvement in its net interest margin.

According to the Australian Prudential Regulation Authority’s latest monthly banking statistics, Auswide’s mortgage book grew 14 per cent in the 12 months ending 30 April 2019, up from $2.2 billion to $2.5 billion.  

Auswide’s home lending growth was driven by a $200 million increase (13 per cent) in its owner-occupied book, while its investment portfolio rose by $122 million (16 per cent).

Reflecting on the bank’s performance, Auswide managing director Martin Barrett said: “Auswide has experienced good growth across its loan book in the second half of FY19, reflecting our strategy of diversifying our lending across geographies and customer segments.


“We have decided to increase our final fully franked dividend reflecting our confidence in outlook for Auswide.”

Mr Barret partly attributed the improvement in the lender’s performance to greater brand awareness, particularly off the back of sporting partnerships.  

“Our brand awareness is improving following the Queensland Maroons partnership, which is receiving positive feedback from our customers, brokers and local communities,” he said.

“We are looking forward to the beginning of the State of Origin series on 5 June when the Queensland Maroons will wear the Auswide logo for the first time.”

Auswide recently dropped its standard variable rates by 25bps, along with several other lenders who responded to the Reserve Bank of Australia’s decision to cut the official cash rate to a new record low of 1.25 per cent.


[Related: ANZ’s mortgage book continues thinning]

Auswide reports ‘acceleration’ in mortgage growth
Auswide Bank

Latest News

Politicians have traded blows while debating the repeal of responsible lending laws in the lower house, ahead of today’s Senate hearings. ...

The non-bank lender reported an 88 per cent rise in profit and a 14 per cent increase in its loan book over 1H21, despite a drop in the volu...

There was a 26 per cent rise in loans originated through the broker channel at the non-major bank as at 31 December 2020, according to its r...


Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.


LATEST PODCAST: BOQ’s acquisition of ME Bank

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.