Macquarie leaves new CEO to clean up mortgage mess

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Via Banking Day:

Supercharged growth in its mortgage book remains a pillar of the Macquarie Group story, with the Australian mortgage portfolio of its banking arm expanding by five per cent to A$34.3 billion over the June 2018 quarter.

That’s 20 per cent annualised and in line with growth reported in the monthly APRA data for Macquarie Bank on both a three month (to May 2018) and six month basis.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.