SYDNEY, Feb 24 (Reuters) - Commonwealth Bank of Australia will buy a A$2.25 billion ($1.45 billion) portion of home loans from local finance firm Wizard, the bank said on Tuesday.
Australia's third-largest bank said the acquired portfolio comprised mortgages that were 100 percent mortgage insured.
Wizard is owned by General Electric Co.
(Reporting by Mette Fraende) ($1=1.551 Australian Dollar) Keywords: COMMONWEALTH/ (mette.fraende@reuters.com; +612-9373-1815; Reuters Messaging mette.fraende.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Australia's third-largest bank said the acquired portfolio comprised mortgages that were 100 percent mortgage insured.
Wizard is owned by General Electric Co.
(Reporting by Mette Fraende) ($1=1.551 Australian Dollar) Keywords: COMMONWEALTH/ (mette.fraende@reuters.com; +612-9373-1815; Reuters Messaging mette.fraende.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.