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Suncorp Group Limited (ASX:SUN) has announced a reduction in total lending over the September quarter while its net interest margin increased.The insurance and investment company says total lending slipped 0.9 per cent in the quarter amid a low rate environment and with ongoing customer deleveraging.The company managed to push its net interest margin to the top of the target range of 1.75 to 1.85 per cent in light of increasing competition in mortgage lending.CEO John Nesbitt says the company has been successful in the quarter in improving the quality and diversification of lending assets.Suncorp reported a net profit of $737 million in the 2014 financial year.
News: Suncorp total lending slips in Q1
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