• Approximately $220 million in prime residential mortgages sold
• Net sale profit of ~$2 million
• Ongoing servicing fee over the life of the assets

BNK Banking Corporation Limited (ASX: BBC), the bank with over 40 years of experience, has announced a strategic whole loan sale of approximately $220 million worth of prime residential mortgages within the Bendigo Warehouse facility to Bendigo Bank (ASX: BEN). The transaction highlights include the sale of approximately $220 million in residential floating rate mortgages, a net sale profit of ~$2 million, and an ongoing servicing fee over the life of the assets. BNK CEO Allan Savins commented that this partial sale is a strategic move that aligns with the company's broader goal of optimising its asset allocation. BNK will continue to service the assets on Bendigo Bank's behalf and receive a servicing revenue stream. The company also expressed its pleasure in maintaining strong relationships with key financiers, Bendigo Bank and Realm Investment House, while aligning its balance sheet management with its strategic objectives and market positioning. The transaction is expected to be completed shortly and will be reflected in BNK's H2 2025 financial results.