Lloyds Australia decision looms

A decision is reportedly imminent on the remainder of British bank Lloyds's Australian operations, with executives at the British parent's office reviewing submitted bids, according to The Australian Financial Review.

The report suggested that a decision could occur by Thursday.

Westpac Banking Corporation (WBC) and Macquarie Group (MQG) are believed to be the two bidders for Lloyds's motor leasing division, Capital Finance, which has about $6 billion worth of assets under management.

The AFR reported that Macquarie's bid is believed to be the highest, though the edge is a narrow one.

However, Macquarie may have excluded certain loans in its bid, which could pay in Westpac's favour since it is bidding for the entire package, or open the door for Challenger Financial Group, which is believed to be interested in any loans not included in a deal.