RACQ Bank one of Australia's fastest growing home loan lenders
RACQ Bank has been named one of the fastest growing home loan lenders in the country by the Australian Prudential Regulatory Authority (APRA).
Monthly banking statistics from APRA revealed RACQ Bank achieved annual growth of 21.2 percent, and ranked in the top five lenders to home buyers.
RACQ Bank CEO Michelle Bagnall said the result was positive reinforcement the Club continued to achieve its purpose.
“In the wake of the Royal Commission, consumers are searching for organisations they can trust,” Ms Bagnall said.
“As a customer-owned bank, we have the ability to focus on what our members want and need. Without the pressure of shareholders expecting profits, we can offer members some of the best rates and lowest fees in the market.
“The market is extremely competitive and this strong growth shows we’re continuing to buck the downward trend on home lending.”