Kiwibank's mortgage book grows fast but momentum slips

However, the bank's 4.99% one-year fixed "special," which garnered significantly more than $200 million in new business between April 26 and May 31, is likely to boost its June quarter figures.

The loan-to-valuation ratio (LVR) table in Kiwibank's March quarter disclosure statement shows its mortgage book grew by $225 million to $11.43 billion in the three months, down from the $260 million growth in the December quarter.

It's also Kiwibank's smallest quarterly increase since the December quarter of 2010 when its book grew by $194 million.

In the year ended March, Kiwibank's mortgage book grew $1.1 billion, slightly more than the $1.03 billion growth the previous year.