Business

Purchase to boost GE share of Aussie mortgage market

SYDNEY: General Electric Co, the world's biggest non-bank lender, has agreed to buy Australian Financial Investments Group, boosting its share of the mortgage market Down Under. 

Closely held Australian Financial owns Sydney-based Wizard Mortgage Corp, the country's biggest non-bank home lender, with 200 branches and A$18.5bil of mortgages. 

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