Australian banks diverge in April; UBS sees Macquarie, Westpac outperforming ANZ

Westpac Banking

01/06/2026 05:55

** Australian banks saw solid system credit growth in April, though UBS flags increasingly divergent performance across major lenders
** Financials sub-index .AXFJ currently down 0.3% at 9,159.9 points 
** UBS highlights Macquarie MQG.AX, CBA CBA.AX and Westpac WBC.AX as standouts across mortgages, deposits and total asset growth
** Says MQG remains fastest-growing player, with strong gains in investor mortgages and continued market share expansion
** Brokerage notes CBA continues to lead structurally, with consistent investor lending growth and dominant positions across key products
** Flags WBC as improving, citing strong mortgage flow share and above-peer momentum in April
** UBS says NAB NAB.AX remains leveraged to robust business lending trends, broadly in line with peers
** Identifies ANZ ANZ.AX as lagging, underperforming system growth across mortgages and losing business lending market share
** AXFJ down 1.5% so far this year, including the day's moves



 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.nair@thomsonreuters.com))