Macquarie Bank ceases new car loans to focus on home loans and deposits, effective May 17.

Macquarie Bank, an Australian financial group, is stopping new car loans through direct, broker, and novated lease channels to prioritize growth in home loan and deposit offerings. The decision won't affect existing customers and car loan applications must be settled by May 17. The move intends to focus on best-in-class technology platforms and aims to contribute 15.5% to Macquarie's fiscal 2023 net operating income.

April 22, 2024
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