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MyState doubles investor loan book

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.

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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.

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]

MyState doubles investor loan book
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