Commercial lender The Banksia Financial Group has strengthened its position through an amalgamation with fellow Kyambram based business Statewide Secured Investments.
Effective as of last week the merged entity will now trade under the Banksia banner and manage investments totalling around $840 million. Combined the two groups will have offices in Melbourne, Adelaide and regional Victoria.
Managing director of Banksia Pat Godfrey said the amalgamation would add substantially to the scale of the business.
“There has always been a logic about amalgamating the two groups. They are both administered out of Kyabram from offices just down the street from each other,” he said.