Allied Credit Announces Acquisition of Car Finance Portfolio from Macquarie​

Leading Australian independent financier, Allied Credit, is pleased to announce a $1.5bn loan book acquisition. Today we signed an agreement with Macquarie Group’s Banking and Financial Services arm to purchase a significant part of their existing car loan and novated leasing portfolio to Allied Credit.​

This acquisition aligns with Allied Credit’s vision and strategy to be Australia’s high-performance financier. It strengthens our position in the market and complements our existing capabilities, product offerings, and customer focus.​

Jon Moodie, Allied Credit’s Chief Executive Officer, said “Allied Credit is fast becoming the preferred provider in the Australian auto finance industry and this agreement reinforces our growing reputation in the Australian market. We previously partnered with Macquarie on the transition of their dealer floorplan book to Allied Credit in 2021 and we’re proud to be building on that success. We’re committed to ensuring a seamless and valued experience for our new customers and salary packaging partners.”​

​Speaking on the car loan business transition agreement, Macquarie’s Head of Personal Banking Ben Perham, said: “In just a few years, we have cemented our position as a leading digital bank and grown to become Australia’s fifth largest lender and household deposit holder. We decided last year to cease new car lending so we could double down on providing the best possible digital banking experiences to our customers. This agreement with Allied Credit, an established lender in Australia’s motor vehicle finance market, will help us to deliver on this strategy whilst ensuring our car loan customers enjoy continued access to the finance solutions they need.”

We look forward to welcoming our new customers who will receive Allied Credit’s exceptional customer service and expertise in car lending. The transition from Macquarie to Allied Credit is planned for Q4 2025.​

For any enquiries related to existing car loans with Macquarie please visit their website.