Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Macquarie Group Ltd    MQG   AU000000MQG1

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Macquarie in Home Loans Tie-Up with Yellow Brick

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/07/2012 | 07:30am CEST

--Macquarie in banking, mortgage deal with Yellow Brick

--Yellow Brick aims to undercut major banks on home loans

By Caroline Henshaw

(Adds Yellow Brick statement from first paragraph)

SYDNEY--Macquarie Group Ltd. (>> Macquarie Group Limited) will help challenge the dominance of Australia's biggest lenders in the retail-banking sector through a distribution agreement with Yellow Brick Road Holdings Ltd. (YBR.AU).

A tie-up in the retail space potentially marks a shift in Macquarie's strategy as the downturn in global financial markets hurts earnings at the country's only investment bank.

In a statement Wednesday, Yellow Brick's Chief Executive Matt Lawler confirmed earlier reports that the lender was planning to boost its presence in Australia's home-loan market by offering customers a 5.5% interest rate--1.15% off the base rate of 6.65%--for the first year of their mortgages.

That's more-than 1 percentage point below the 6.58% rate currently offered by National Australia Bank Ltd. (>> National Australia Bank Ltd.) on the type of variable-rate home loan used by the majority of Australian customers.

NAB's rate is currently the cheapest of the big four banks, which together account for about 85% of the country's more-than-1 trillion Australian dollar (US$1.05 billion) mortgage market.

Yellow Brick's Mr. Lawler said a wholly-owned subsidiary of the company had signed an agreement with Macquarie Bank to offer jointly-branded banking and wealth management products, in addition to a new mortgage funding and distribution agreement. None of the companies were immediately available to provide more details about the deal.

"There's plainly a degree of structural change in the industry," Macquarie's Chief Executive Nicholas Moore told reporters after the bank's half-year results last month.

"The underlying need in terms of what [investment banks] provide to the world will continue, but it will be in a different form in the future," he added at the time.

Write to Caroline Henshaw at caroline.henshaw@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Macquarie Group Limited, National Australia Bank Ltd.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on MACQUARIE GROUP LTD
09:46a MACQUARIE : UK government's sale of Green Investment Bank completed
08:12a MACQUARIE : led consortium completes acquisition of the Green Investment Bank
02:47a MACQUARIE : announces appointment of Chief Economist and Head of Macro Research
08/17 MACQUARIE : Water Contamination Hampton well closed for increased presence of PF..
08/15 EVERSOURCE ENERGY : North Hampton Town seeks to intervene in sale of Aquarion Wa..
08/14 EVERSOURCE ENERGY : State rep pushes to stop sale of Aquarion Water Petition mu..
08/14 KAR AUCTION SERVICES : Trexquant Investment Buys Fresh Stake in KAR Auction Serv..
08/11 MACQUARIE : Water bill No. Hampton refuses to pay Aquarion Says company did not ..
08/11 PFIZER : Shares Sold by United Bank Inc.
08/11 MACQUARIE : Cerebral Palsy Alliance announced as Macquarie’s $100,000 Soci..
More news
News from SeekingAlpha
07/27 Macquarie Group Limited (MCQEF) Investor Presentation - Slideshow
07/25 REUTERS : Macquarie picks Moelis for $4.5B Puget Energy stake sale
05/05 Macquarie Group's (MCQEF) CEO Nicholas William Moore on Q1 2017 Results - Ear..
05/05 Macquarie Group reports FY results
02/08 Macquarie Group's (MCQEF) on Operational Briefing Broker Conference (Transcri..
Financials ( AUD)
Sales 2018 10 656 M
EBIT 2018 3 281 M
Net income 2018 2 319 M
Debt 2018 -
Yield 2018 5,41%
P/E ratio 2018 13,35
P/E ratio 2019 12,78
Capi. / Sales 2018 2,85x
Capi. / Sales 2019 2,76x
Capitalization 30 332 M
Chart MACQUARIE GROUP LTD
Duration : Period :
Macquarie Group Ltd Technical Analysis Chart | MQG | AU000000MQG1 | 4-Traders
Technical analysis trends MACQUARIE GROUP LTD
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 95,0  AUD
Spread / Average Target 7,1%
EPS Revisions
Managers
NameTitle
Nicholas William Moore Chief Executive Officer, MD & Executive Director
Peter Hastings Warne Independent Chairman
Nicole Sorbara COO & Head-Operations Group
Patrick Upfold CFO & Head-Financial Management Group
Justin Raoul Moffitt Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
MACQUARIE GROUP LTD1.73%23 941
CITIC LTD4.68%43 205
NATIXIS19.44%23 571
CHINA HUARONG ASSET MANAGEMENT CO LTD16.49%16 274
INVESTEC8.96%7 623
SWISSQUOTE GROUP HOLDING SA42.56%557