Macquarie Bank is planning to sell its Australian investment lending business.
The bank is in discussions with potential buyers, and is exploring the possibility of a partnership that will allow it to continue to provide investment loans to clients.
"The potential sale of the business follows on from Macquarie's decision in March 2008 to wind back its mortgage business, and reflects the increased cost of funding associated with changed financial markets conditions over the past year," the bank said.
The sale of the investment lending business will not be financially material to Macquarie Group, as it represents just one per cent of profits.
Macquarie Investment Lending provides margin loans, protected loans, and specialist investment loans in Australia.
Macquarie did not disclose a price for the business.
