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Macquarie Transfers $1.5 Billion Car Loan Portfolio to Allied Credit
Strategic Move Reflects Macquarie's Focus on Mortgage Growth
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In a significant development within the Australian financial sector, Macquarie Group's Banking and Financial Services division has agreed to sell a substantial portion of its car loan portfolio, valued at $1.5 billion, to Allied Credit.
This transaction involves over 50,000 car loans and is expected to be finalised by the fourth quarter of 2025.
This strategic decision aligns with Macquarie's broader objective to concentrate on expanding its home loan and deposit products. Ben Perham, Head of Personal Banking at Macquarie, stated that the move allows the bank to enhance its digital banking services and focus on areas with higher growth potential.
Allied Credit, a prominent independent financier in Australia, views this acquisition as a pivotal step in strengthening its position in the automotive finance market. Jon Moodie, CEO of Allied Credit, expressed confidence that the deal would bolster the company's capabilities and customer offerings.
For existing Macquarie car loan customers, the transition is expected to be seamless, with Allied Credit assuming responsibility for servicing the loans. This development underscores the dynamic nature of the automotive finance sector and highlights the importance of staying informed about changes that may impact borrowers.
Published:Wednesday, 8th Oct 2025 Source: Paige Estritori
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