Shares of Macquarie Group (ASX:MQG) fell nearly 2% in Friday trade after it said in a late Thursday statement that its banking and financial services unit agreed to sell a AU$1.5 billion portfolio of car loans to finance provider Allied Credit.
The deal includes more than 50,000 car loans and is expected to be completed by the fourth quarter of the year, the group said.
The group will retain a smaller AU$340 million portfolio, which is expected to largely mature by the end of 2026, the group added.
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