UDC News

Announcement: UDC purchases NZ assets of BOQ

05 February 2024

UDC is pleased to announce that we have signed an agreement to purchase the New Zealand loan book of BOQ Finance from the Bank of Queensland (BOQ). Approval from the Overseas Investment Office (OIO) has been received and the transaction is expected to be completed in the first half of FY24.

The purchase aligns with UDC’s core business while providing exposure to adjacent business areas, the opportunity to work with new distribution partners and supports UDC’s ongoing growth strategy through acquisition.

UDC Finance CEO, Don Atkinson, stated “We are very excited by the opportunity to work with a fantastic customer base, well established by the BOQ team, along with the network of distribution partners that this transaction will bring.”.

In the meantime, if customers have queries around their BOQ loans, please contact BOQ on 0800 967 802 or +61 1300 883 508 or email boqefcustomerservice@boqfinance.com.au.

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