Tasmanian-based MyState Bank is getting huge home loans growth.
The bank's loan book increased by 11.56 per cent in the first four months of the financial year, Australian Prudential Regulation Authority figures showed.
The industry average was 2.17 per cent.
MyState Bank said it was an especially rewarding achievement given it had one of the lowest arrears rates in the nation.
"The strength of MyState's loan book reflects our extensive investments in people and state-of-the-art digital back-end processes," general manager of banking Huw Bough said.
"Our focus has been on business-wide efficiencies which have streamlined loan approvals, providing a frictionless experience for borrowers.
"MyState's home loan portfolio growth also comes down to customers being more comfortable with a mortgage broker recommending a challenger bank that has the bells and whistles like Apple Pay, Garmin Pay and Samsung Pay, plus there's now greater acceptance of the loan process being managed virtually, from application through to approval.
"We're not hamstrung by expensive, clunky legacy systems, which means we're providing a consistent service for customers and mortgage brokers."
Parent company MyState Limited has about 160,000 customers across Australia, having added about 17,000 in 2020-21.
The company comprises the bank and TPT Wealth, which provides trustee and wealth management services.
It listed on the ASX in 2009 and has about 61,500 shareholders.
MyState Bank has more than $6 billion in lending assets, according to an investor presentation released to the market on Tuesday.
It is continuing its tech roll-out, and aims to launch its next generation mobile app and next generation of internet banking in the first half of 2022.
MyState Limited recently raised $55.5 million to underpin a drive for further growth
Customer deposits increased by 5.6 per cent during the September quarter.