National Australia Bank

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National Australia Bank Nabs Challenger’s Mortgage Ops

Aug 19, 2009By

The trend of larger financial institutions gobbling up other firms or divisions of their business to form conglomerate mortgage-lending entities — similar to Branch Bank and Trust’s [stock BBT][/stock] recent takeover of Colonial Bank’s assets — is not isolated to US institutions. National Australia Bank agreed to acquire mortgage operation segments of Sydney-based Challenger Financial Services Group.

3d rendering of a row of luxury townhouses along a street

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