All finance quotes are provided free (via our secure server) and without obligation. We respect your privacy.
CAR LOANS
AUSTRALIA
SHARE
Share this news item!
Macquarie Bank Transfers $1.5 Billion Car Loan Portfolio to Allied Credit
Strategic Shift in Macquarie's Banking Focus
0
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
In a significant move within the Australian financial sector, Macquarie Bank has agreed to sell a $1.5 billion portfolio of car loans to Allied Credit, a leading independent financier in Australia.
This portfolio encompasses over 50,000 car loans and is slated for transfer by the fourth quarter of 2025.
Ben Perham, Head of Personal Banking at Macquarie, stated that this decision aligns with the bank's strategy to enhance its digital banking services. By divesting from new car lending, Macquarie aims to concentrate on providing superior digital experiences to its customers. Perham emphasized that partnering with Allied Credit ensures that existing car loan customers will continue to have access to necessary finance solutions.
Allied Credit's CEO, Jon Moodie, expressed enthusiasm about the acquisition, highlighting the company's growing reputation in the Australian car finance market. This transaction builds upon a previous partnership in 2021, where Allied Credit took over Macquarie's dealer finance operations. Moodie assured a seamless transition for the new customers and salary packaging partners involved.
Macquarie's decision to cease new car lending via direct, broker, and novated leasing channels reflects a strategic pivot towards focusing on core offerings such as home loans and deposit products. Customers affected by this transition will receive detailed information from Macquarie in the coming months regarding the transfer process and any potential impacts on their loan agreements.
This development underscores the dynamic nature of the Australian car finance landscape, with institutions like Macquarie reevaluating their positions to better serve their clientele and adapt to evolving market demands.
Published:Wednesday, 28th Jan 2026 Source: Paige Estritori
Please Note: If this information affects you, seek advice from a licensed professional.
In June 2025, Australian business lending experienced a notable increase, with loans to non-financial businesses reaching $1.14 trillion, marking a 9.2% year-on-year growth. This expansion significantly outpaced the 5.6% growth observed in housing loans, which totaled $2.34 trillion during the same period. The data, released by the Australian Prudential Regulation Authority (APRA), highlights a renewed appetite for corporate borrowing and investment. - read more
In July 2025, Australia's top 10 authorised deposit-taking institutions (ADIs) reported a combined business loan book of $925 billion. Notably, Japanese banking giants Sumitomo Mitsui Banking Corporation (SMBC) and Mitsubishi UFJ Financial Group (MUFG) emerged as significant contributors to this growth, outpacing traditional Australian lenders in percentage growth rates. - read more
Welcome to Car Loans Australia, a proud member of the Financial Services Online network. Owned and operated by Clark Family Pty Ltd, A.C.N. 010 281 008, we are dedicated to helping Australian individuals and businesses find the best financial products, services, information, and advice available online.
calculatorWidget
knowledgeBaseWidget
Our Commitment
At Car Loans Australia, we do not endorse specific financial products or offer financial advice. Instead, we connect you with specialist financiers, insurers, or other financial advisors who can provide expert guidance based on your unique circumstances. Please note that Car Loans Australia may receive a fee or commission for these referrals.
Information and Guidance
The financial information on our website, including articles and news items, is intended for general informational purposes only. It should not be considered a substitute for professional advice. We strongly recommend consulting a qualified, licensed financial advisor to discuss your specific situation before making any financial decisions.
Connecting You with the Right Solutions
Our primary role is to facilitate connections between you and the right financial resources. Whether you need a specialized financier or an expert advisor, we aim to introduce you to professionals who can help you achieve your financial goals.
Contact Us
We are here to assist you with any questions or further information you may need. Please feel free to reach out to Car Loans Australia for assistance.
