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# ANZ under Nuno Matos: growth remains a work in progress
- URL: https://www.benchmarkanalytics.com.au/anz-nuno-matos-market-growth/
- Published: 2026-09-07T08:04:45.000Z
- Updated: 2026-09-07T08:04:45.000Z
- Description: ANZ has kept pace with the major banks in investor housing under Nuno Matos, but APRA data show weaker relative growth across business lending, owner-occupied mortgages and deposits.
- Author: Nick Hossack
- Tags: ANZ, Nuno Matos, APRA, Australian Banks, Business Lending, Housing Lending, Mortgages, Investor Lending, #banking

Nuno Matos became ANZ Group CEO on **12 May 2025**, succeeding Shayne Elliott after previously leading Wealth and Personal Banking at HSBC. Just over a year into his tenure, APRA’s banking statistics suggest **ANZ is yet to match the broader market’s balance-sheet growth**.

The weakest result is **business lending**. ANZ’s business loan book has grown **6.6%** since Matos took over, compared with **14.2% across the major banks** and 12.4% across all ADIs. Business lending covers credit to companies and other commercial borrowers.

Housing has performed somewhat better. **Owner-occupied lending** — mortgages on homes borrowers live in — increased **4.0%**, against 6.6% for the majors. **Investment housing lending**, covering loans on rental and investment properties, grew **8.8%**, marginally ahead of the major-bank average of 8.6%, although below 10.8% across all ADIs. Overall housing lending increased **5.6%**, versus 7.2% for the majors.

**Resident deposits** — deposits from Australian households, businesses and other residents — increased **8.4%**, also below major-bank growth of 10.0%.

The early conclusion is therefore fairly clear: **ANZ has broadly kept pace in investor mortgages, but has lost relative ground in business lending, owner-occupied housing and deposits under Matos so far.**

The figures are from **APRA’s Monthly ADI Statistics for July 2026** and measure changes in outstanding balances rather than new lending flows.

ANZ under Nuno Matos 

Growth in key markets since May 2025 

| Market                                        | Balance  | Growth | Majors | All ADIs |
| --------------------------------------------- | -------- | ------ | ------ | -------- |
| **Business lending** 12.4% market share       | $157.8bn | +6.6%  | +14.2% | +12.4%   |
| **Investor housing** 13.8% market share       | $113.6bn | +8.8%  | +8.6%  | +10.8%   |
| **Owner-occupied housing** 12.9% market share | $218.3bn | +4.0%  | +6.6%  | +7.5%    |
| **Total housing** 13.2% market share          | $331.9bn | +5.6%  | +7.2%  | +8.5%    |
| **Resident deposits** 12.5% market share      | $438.3bn | +8.4%  | +10.0% | +10.6%   |

**Period:** 12 May 2025 to July 2026.  
**Source:** APRA Monthly ADI Statistics. Calculations: Benchmark Analytics.