Suncorp looks to St George to manage margin lending

St George Bank will undertake back office processing and product origination work for Suncorp Metway's margin lending activities. St George will take over the administration of Suncorp's margin lending book from JDV broking technology, which has had the business since mid-2000. Suncorp would undertake marketing, pricing and risk functions. Suncorp's margin lending book is believed to be around $300 million. Suncorp is a relatively small provider in margin lending. Commonwealth Bank leads this market segment, with a book of around $4.5 billion.