NAB lands approval for 86 400 acquisition despite competition concerns
86 400 bagged its own banking licence back in 2019.
86 400 bagged its own banking licence back in 2019.
Upon its acquisition, NAB says 86 400 has some 85,000 customers.
This brings the total capital raised by 86 400 up to AUD 90 million.
ANZ, Westpac, NAB and Commonwealth Bank have lost a collective half a billion dollars.
Funding is needed to grow, the bank says.
As it seeks the regulator’s licence to deliver its own home loans.
What makes 86 400 different from its rivals, and why the big four Down Under got what they deserved.
Team includes former ANZ CEO and ex-Metro Bank founder.