NAB has outpaced its rivals in home loan growth, expanding at nearly twice system during July.

New APRA figures show the bank grew its mortgage lending book by 0.85% in July. The result saw NAB nearly double the growth of its nearest rivals, ANZ and Westpac, which each grew their books in line with system at 0.43%. CBA, meanwhile, only managed to grow 0.14% in July.

Year-on-year figures show NAB increased its home loan book 13.5%. The remaining big four failed to come close to this level, with ANZ growing 7.1%, Westpac increasing their loan book 6.7% and CBA growing by 4.3%.

The slower growth, however, did not detract from the rest of the big four seeing massive profits over the year. Recent APRA figures show the major banks saw a 34.4% profit margin for the 2010-11 financial year. Amid rate cuts later in the financial year, the majors still managed to raise $47bn in net interest income, a 3.5% increase over the previous financial year.