Lenders battle it out for $2bn loan book

by 11 Feb 2014
A number of lenders are said to have made bids to acquire around $2bn in loans being sold by Investec.

Macquarie Group, ANZ, NAB, Pepper, Bank of Queensland and Bendigo & Adelaide Bank are among the lenders planning bids for the loan book, according to a Fairfax report.

Investec, which owns a bank and money manager in South Africa and the UK, placed some of its Australian units on the market in November through adviser Greenhill.

Investec said at the time the move was to “identify alternatives”, including sale, joint venture or continuing current operations.

The company is expected to provide an update on its plans by the end of March.