Macquarie eyes a slice of Aussie banks' home mortgage pie
Move comes as the investment bank diversifies into less risky areas
Tue, Oct 29, 2013 - 6:00 AM
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),...