23 Feb 2015

ANZ tops mortgage lending ranking

6:56 am on 23 February 2015

New Zealand's largest bank, ANZ, has been the stand-out winner in the mortgage market during the December quarter.

Figures from the banks' latest disclosure statements show the big four made $2.03 billion in new mortgage lending in the last three months of the year.

ANZ claimed the lion's share of net new mortgage lending in the December quarter, with $881 million, or more than 43 percent of the total by the big four banks.

Its lending spurt is all the more remarkable when one considers it lent $1.17 billion to people with more than a 20 percent deposit, while curbing its riskier lending by $287 million.

ANZ's share of total mortgage lending by the big four banks is nearly 35 percent.

By contrast, the second largest mortgage lender, ASB, missed out.

ASB's market share is just over 24 percent, but its net new mortgage lending of $233 million accounted for just 11.5 percent of total new lending in the quarter.

The other two major banks, Westpac and Bank of New Zealand, held market shares, lending $576 million and $338 million respectively.

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