Macquarie’s portfolio now represents approximately 7.1% of the Australian market, which head of broker sales Wendy Brown (pictured) said “is a big milestone if you consider the highly competitive nature of the market”.
“We recognise the growth in our home lending business over the past year, and indeed throughout our history, is thanks to our broker partners,” said Brown. “It is brokers who are recommending us to their clients – driving our success and making more Australians nationwide Macquarie Bank customers.”
This exceptional mortgage book growth contributed to net interest income growth of 7%, although Macquarie was candid about the challenges ahead.
The bank warned that “market dynamics and portfolio mix… continue to drive lower margins”, which is a theme consistent with the broader Australian banking sector.
The broker channel remains Macquarie’s dominant origination pathway, with more than 95% of all home loans originated through brokers.
