BNK Banking Company Limited (ASX: BBC) announced the purchase of AU$150 million in high-margin residential variable rate mortgages from a warehouse financed by Goldman Sachs, for which BNK is responsible for origination, underwriting, and servicing. The portfolio's weighted average current LVR is 64.4%, with a potential LVR of 80%.
This deal will grow the BNK loan book by 13% to AU$1.3 billion, boost the net interest margin (NIM) in the 2HFY23, and meet the medium-term aim of 2.0% NIM. In 2021, the business will open an uncommitted AU$500 million specialised home securitisation warehouse with Goldman Sachs.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
