
In portfolio percentage terms, Members Equity registered 3% growth, with Macquarrie at 2% and Suncorp and AMP at 1.8%, all above system growth.
Turning to deposits, we saw growth of 1.37% in the month, to $1.8 trillion. CBA holds the largest share of deposits, with WBC and NAB following.
Looking at the monthly portfolio movements, we see CBA recorded portfolio growth of 1.6%, whilst WBC was 0.29%. Rabbobank grew their portfolio by 1.69%, whilst Macquarie and ING both grew their portfolios by 1.55%. We suspect some players are actively managing their deposits preferring to use wholesale funding alternatives, as we have discussed before.
Looking at credit cards, balances rose 1.9% to $41.8 billion. There was little overall change in portfolio mix amongst the main players, and Citigroup maintained in position at number 5.