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St George Bank has withdrawn its personal loans from the broker channel as part of a recent review of its intermediary distribution market.
Effective this Friday May 22 brokers will no longer have access to St George personal loans.
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Steven Heavey, St George general manager of intermediary distribution, said St George’s core strengths were in the home ownership and wealth building segments and these would become the key areas of focus for the bank’s intermediary channels.
“Our strategic objectives will continue to focus on these segments, where we have a proven ability to acquire new customers and establish deep ongoing relationships with those customers,” he said.
Intermediary distribution would remain a “key player” for St George, the bank said, and it remained “strongly committed to the mortgage broker community”.
