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Macquarie eyes a slice of Aussie banks' home mortgage pie

Move comes as the investment bank diversifies into less risky areas
Tuesday, October 29, 2013 - 06:00
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High-stakes: Macquarie's share in mortgages for investment purposes jumped 25% in the three months to July alone, although that still only accounts for 1.1% of the overall investor mortgage market. - PHOTO: REUTERS

[SYDNEY] Australia's largest investment bank Macquarie Group Ltd is pushing rapidly into home mortgages, threatening to disrupt a highly profitable segment of the banking industry long dominated by the country's top four lenders. Australia and New Zealand Banking Group Ltd (ANZ), Commonwealth