A fifth contender could be taking shape in Australia’s banking sector dominated by CBA, Westpac, NAB and ANZ, Fairfax has reported.
According to rumours circulating at the Birdcage in Flemington on Tuesday, Macquarie Group might soon emerge as a formidable competition to Big Four.
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Business Day reports the Macquarie Group and Mark Bouris’ Yellow Brick Road are apparently in talks over a distribution deal that would give Yellow Brick access to billions of dollars on the former’s balance sheet.
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Fairfax sources believe that the two groups might take on the competition in the banking space by offering home loans that are one percentage point beneath the Big Four.
Yellow Brick Road has 140 sites across the country and if the rumoured tie-up fructifies, the group will pose a big challenge to the major banks.
There was no comment reported from Bouris.
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