Members Equity Bank to fund mortgages from deposits

Since acquiring its banking licence in 2001, Members Equity Bank has relied on RMBS to finance its lending activities. However, since the August funding crisis the bank has been forced to diversify its funding base.

The bank’s chief financial officer Nick Vamvakas said that retail deposits lodged with the bank would now be used to finance home loans from January.

Written by Staff Reporter

Last Updated: 09 March 2022

Published: 02 January 2008