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Challenger’s bank ‘ready for lending’

Challenger’s recently acquired banking division “expects to commence corporate and SME lending shortly” the financial group said yesterday.

Challenger bought what is still called My Life My Finance.

Rebranding of the bank to the Challenger brand is still to be finalised.

Bank deposit sales were A$59 million during the third quarter with maturities and withdrawals of $29 million. Bank deposit book growth for the quarter was 22 per cent.

The bank is preparing to make Challenger’s term deposits available through the broker channel, expected during the current quarter.

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