Wide Bay a buyer of loan books
Wide Bay Australia says it will buy home loan and business loan books should any opportunities arise.In an investor presentation lodged with the Australian Securities Exchange on Friday, Wide Bay said it aimed to buy "quality home loan books as and when they become available."It said it would also "review and assess" small business banking books.In the past, Wide Bay has expanded through outright takeover or merger with authorised deposit takers serving adjacent markets, rather than buying loan books.Wide Bay also reiterated its interest in merging with others. Wide Bay is interested in buying other building societies as well as credit unions, a long-standing aim.Other priorities include widening its product offerings to include personal loans. The building society said it expected to originate 600 of these a year.Seeking a full banking licence is also on the horizon for the Bundaberg-based business.