By Gareth Vaughan
Kiwibank grew residential mortgages by $235 million, or about 1.9%, in the June quarter with the bulk of the growth coming in lending where borrowers had a deposit of at least 20%.
The bank's latest General Disclosure Statement shows residential mortgage lending up $235 million to $12.471 billion in the three months to June. In terms of volume growth Kiwibank, the last of the big five banks to issue a GDS covering the June quarter, recorded the slowest growth of the big five banks.
Just $17 million of Kiwibank's growth stemmed from high loan to value ratio (LVR) lending, loans where the borrower has a deposit of less than 20%.
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