Which bank is winning the lending race?
ASB Bank has significantly lifted mortgage lending in the March quarter after shrinking its book in the December quarter but its lending still isn't keeping pace with its market share.
But Kiwibank continues to punch far above its weight and ANZ appears to be aggressively chasing market share.
The Reserve Bank's financial strength dashboard for the March quarter shows ASB lent a net $380.7 million in the quarter after its mortgage book shrank by $312 million in the December quarter but it still accounted for just 14% of total new mortgage lending by registered banks in the March quarter.
For the year ended March, ASB's new mortgage lending grew a measly $46.7 million, accounting for just 0.4% of new bank mortgage lending in the 12 months.
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