ANZ loses market share in home loans

ANZ's September quarter general disclosure statement for its overall New Zealand operations show its total mortgage book grew by $139 million to $53.78 billion, leaving it by far the country's largest mortgage lender (the next largest, ASB Bank, had a $37.66 million mortgage book at September 30).

However, those figures aren't comparable with the figures reported by the other banks and are overstated because they are prepared under Basel 1 rules and include business loans secured by residential mortgages.

Combining figures for its subsidiary, ANZ National Bank, which are reported under Basel II rules like the other banks, and its New Zealand branch, which are reported under Basel 1 rules, to get a number which most closely matches the other banks', ANZ's mortgage book totalled $51.12 billion at September 30, up $228 million from June 30.

Using the latter figures and those of the Reserve Bank as a proxy for the mortgage market, ANZ wrote 28.4% of mortgages written by registered banks in the September quarter and its share of the market eased to 30.73% from 30.74% three months earlier.