Home Loan Demands Going Higher

By Petra Amelia on September 27th, 2007

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Australian Banks presented a return on equity of 17.5 per cent in the twelve months to March for all the shareholders, as they bumped up the amount of cash they issued in home loans by 12 per cent to $751.6 billion. Interest income from loans outweighed interest liabilities from deposits and borrowings, to help Australia’s banks reap net interest income of $37.4 billion. The four major banks accounted for 78.6 per cent of that figure. Australia’s 13 domestic banks accounted for 88.6 per cent of all gross loans and advances at March 2007, down from 89.2 per cent a year earlier. Across all fifty three banks, deposits funded 48.3 per cent of total assets.

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