MA Financial Group has posted a 35% rise in underlying net profit for the 12 months to 31 December, driven by record fund inflows, rapid growth in assets under management, and a sharply scaled‑up residential lending platform.
The ASX‑listed group reported underlying revenue of $382.4 million, up 25% on FY24, with all three business units – asset management, lending and technology, and corporate advisory and equities – delivering double‑digit growth. Underlying EBITDA increased 30% to $113 million.
Assets under management climbed 49% year-on-year to $15.3 billion. Gross fund inflows reached a record $4.1 billion, an 82% jump on FY24, while net inflows of $2.4 billion were approximately double the prior year.
Asset management revenue rose 15%, supported by expanding private credit strategies and core real estate holdings. Key transactions included the acquisitions of Top Ryde City shopping centre and Hyperdome Town Square, which boosted the scale of the core real estate portfolio and increased fee‑earning potential.
The lending and technology division was the standout performer, with revenue up 59%. Mortgage aggregator Finsure grew its managed loan book by 26% to $175 billion, with one in nine new Australian home loans in Q4 2025 processed on its platform. MA Money’s residential loan book surged 148% to $5.2 billion, swinging from a $3.6 million earnings headwind in FY24 to an $11 million EBITDA contribution.
MA Money’s balance‑sheet growth is being matched by strong funding support. The lender recently executed its largest residential mortgage‑backed securities (RMBS) transaction to date at $1.25 billion, upsized from an initial $1 billion after attracting robust demand from domestic and offshore investors, including new institutiona The deal underscores appetite for Australia’s non‑bank mortgage sector and supports MA Money’s continued scaling.
Corporate advisory and equities revenue increased 23% to $63 million, reflecting a supportive transactional environment and higher capital solutions activity.
Group expenses rose 23% as MA Financial continued to invest in strategic growth initiatives, including building out its US private credit business, enhancing brand awareness and extending its asset management distribution capability into New Zealand.
“2025 was a year of strong momentum right across our business, and this momentum continued to build over the year,” Joint CEOs Julian Biggins and Christopher Wyke said (pictured, left to right) said. “Our assets under management and loan books continue to grow rapidly and the transactional environment has become more supportive.”
The board declared a fully franked final dividend of 14 cents per share, taking the total FY25 dividend to 20 cents per share, in line with FY24. Since listing at $2.35 per share in 2017, MA Financial will have paid shareholders an aggregate of $1.32 per share in fully franked dividends.
Looking ahead, the group expects underlying EPS in FY26 to be “materially higher” than FY25, supported by MA Money’s FY26 NPAT target of $20 million and expectations for higher net fund inflows (excluding institutional capital), subject to market conditions.
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