AMP Bank: Acquires Nano home loan book
- AMP Bank announces the acquisition of Nano’s residential mortgage portfolio
- Adding approximately A$400 million in loans to Bank’s residential mortgage book
- The acquisition continues to support the growth while maintaining the high-credit quality of the mortgage book
- Nano’s mortgage book consists of primarily owner-occupied, principal and interest loans, with strong credit quality
- The agreement also delivers on Nano’s strategy to focus on being a provider of technology to financial services
- Nano customers will transition to Bank in March 2023 on a comparable product and maintain their current interest rate
