ANZ has best quarter in mortgage market since 2007

ANZ's loan-to-valuation ratio (LVR) table in its latest disclosure statement shows its mortgage book grew by $437 million to $51.46 billion in the three months ended March after shrinking by $148 million in the December quarter and shrinking by $162 million in the September quarter.

Assuming Reserve Bank figures will prove a reasonable proxy for mortgage lending by registered banks as shown in their disclosure statements, that means ANZ accounted for 32.2% of net new lending in the quarter and its market share at the end of the quarter was 30%.

ANZ has only been disclosing this information in its present form since the June quarter of 2011. However, its note on loans and advances, which has a lengthy history but which is a measure not all banks produce, shows the mortgage book grew in the March quarter for the first quarter since March last year.

This and other measures of its mortgage book suggest it has been losing market share since the December quarter of 2007. Its mortgage book was more or less stable through 2007 but had previously been falling since it took over National Bank in 2003, although it remains New Zealand's largest home lending bank by a significant margin.