Suncorp Bank lifted third-quarter home loan lending 2.8 per cent and has flagged modest portfolio growth as rivals become more conservative due to regulatory intervention.
The financial services giant says it lent $44.3 billion in home loans over the three months to March 31, and is optimistic it can benefit from the Australian Prudential Regulation Authority's limit on interest-only lending.
"Suncorp Bank has an opportunity to benefit from changes in competitor offerings as they align to more conservative settings and expects modest growth in both home lending and business lending portfolios," Suncorp said in a statement on Monday.
The Queensland-based bank expressed support for the $6.2 billion levy on Australia's five biggest banks, which was announced by the federal government in this month's budget.
While the banks targeted - NAB, CBA, Westpac, ANZ and Macquarie - are fiercely resisting the impost, Suncorp banking and wealth CEO David Carter said it had the potential to support competition, along with increased supervision of non-bank lenders' activities in the mortgage market
Mr Carter said the levy and and supervision "will go some way to realising a more level playing field".
Growth in business lending was flat for Suncorp as higher loan numbers were offset by more loans being paid off by successful property developments and farming customers enjoying good conditions.
Suncorp said there has been limited impact from Cycone Debbie on its operations since the huge storm devastated large swathes of coastal Queensland in March.
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