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Challenger Financial Services Group’s mortgages under administration and advice rose to $68.150 billion in the September quarter it announced in an update to the ASX yesterday.
This compared to $26.263 billion in the June quarter and was the result of its acquisition of the remaining 85 per cent of PLAN.
In contrast, Challenger’s own mortgages under management fell by 4 per cent during the quarter to $20.8 billion.
The lender said this reflected a “continued strategy to lower volumes while the outlook for term funding markets remained constrained”.
Published: 21-10-08
Today's other news
- Westpac, Homeloans, Liberty move on rates
- Bank deposit guarantees under attack
- PLAN acquisition boosts Challenger's loan book
- Banks re-think high LVR low docs
- NAB profit marginally down
- Australian borrowers more confident
