COG Financial Services has posted $9 billion in net assets financed for FY26, an 8% increase on the prior year, as the ASX-listed aggregator's broker network proved resilient through a year marked by economic and geopolitical uncertainty.
Of that total, $8.5 billion came through broking & aggregation, up 5%, driven by sustained demand for commercial equipment in construction and infrastructure alongside broader growth in commercial lending.
The full-year figure builds on a strong first half, when COG reported $4.5 billion in net assets financed for 1H26, up 7% year-on-year.
COG's broker network grew 5.86% over the year, with 8,253 lender accreditations processed across an expanded 64-lender panel following the addition of 10 new lenders.
Mark Rayson (pictured right), head of COG Aggregation, said the results reflected how brokers navigated a choppier trading environment.
"The market softened through April and May before bouncing back strongly in June," Rayson said. "What remained constant was the underlying need for finance. Businesses still need to replace vehicles, machinery and equipment."
Damian Mantini (pictured left), head of strategic partnerships at Platform Finance, said brokers were increasingly looking past traditional asset finance to meet client needs.
"They're expanding their service range, giving them more ways to solve client problems and build long-term relationships," Mantini said, pointing to a 190% surge in cash flow and secured lending volumes over the year.
COG isn't alone in this shift — fellow ASX-listed aggregator AFG also posted strong FY26 results this month, with its asset and commercial finance settlements climbing 19% to $4.3 billion, pointing to broader momentum across the aggregation sector beyond core mortgage lending.
The expanded panel is giving brokers more room to move when deals fall outside major bank criteria, according to Mantini.
"While the major banks remain a vital part of the market, brokers are increasingly using non-bank and specialist lenders to find tailored solutions," he said.
The diversity of deals funded through the year underscored that shift, ranging from a $12.5 million facility restructure for a civil construction firm to a $1.5 million Lamborghini Revuelto transaction for a high-net-worth client.
Salary packaging volumes rose 62% to $0.5 billion, while novated lease settlements grew 66% and customer numbers nearly doubled.
Rayson attributed the shift partly to growing interest in low-emission vehicles and the FBT exemption available on eligible EVs through novated leasing.
COG CarSelect, the group's vehicle procurement service, recorded a 15% lift in settlements over the year.
Group revenue reached $399.8 million, up 9%, while underlying EBITDA to shareholders climbed 28% to $51.5 million, as COG continued investing in its COG Connect platform and targeted AI integration aimed at speeding up deal execution across the broker, lender and client chain.
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