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PLAN acquisition boosts Challenger's loan book

Staff Reporter 1 minute read

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

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