HSBC's latest disclosure statement shows its mortgage book stood at $962.5 million at March 31, down $5.9 million from December 31 and compared with $991.5 million at June 30 last year.
Mortgages with loan-to-valuation ratios (LVRs) between 80% and 90% showed the biggest fall, down $8.7 million to $16.3 million. Those with LVRs below 80% increased by $1.8 million to $935.5 million, accounting for 97.2% of the total book, and those with LVRs above 90% grew by $1 million to $10.7 million.
Assuming Reserve Bank figures are a good proxy for those shown in bank disclosure statements, that puts HSBC's market share at March 31 at 0.56%, down from 0.57% at December 31 and 0.59% at June 30 last year.
Net profit for the three months rose 4.1% to $12.6 million compared with the March quarter last year, mostly reflecting a decline in charges against profit for bad debts to $318,000 from $623,000. Net interest income rose 2.5% to $21.6 million in the three months.
