Bendigo and Adelaide Bank (ASX:BEN) has completed the acquisition of the ANZ Investment Lending Portfolio (ANZIL), aiming to grow its margin lending entity, Leveraged Equities.
The portfolio is worth around $558M, and increases Leveraged Equities' total portfolio value to over $1.9B, servicing 37,000 customers.
The banks says the acquisition raises the firm's margin lending business market share to 13%.
Bendigo and Adelaide Bank's share price is up 1% at 3:43pm AEST.