Resimac has reported record net profits after tax of $104 million, a stunning 87% rise on last year’s showing.
The non-bank lender also posted an 11% rise in Assets Under Management, with total loans now standing at $13.8 billion.
It represents one of the best showings of the traditional End of Financial Year reporting season, with the 2020 Australian Mortgage Award Non-Bank of the Year winner now well positioned within one of the most competitive lending markets in Australia.
"These results reflect the momentum of our business, which has been fuelled by strong growth across our prime and specialist portfolios in Australia and New Zealand,” said CEO Scott McWilliam.
“This is a clear indication that the Resimac proposition continues to resonate well with both brokers and consumers, with a product diversity and competitiveness that is unmatched by other lenders.”
“Furthermore, our cost-to-income ratio decreased significantly to 32.1% as our continued focus on process and technological enhancements increased efficiencies across the business.”
“Ongoing investments into our digital transformation has seen significant innovation and improvements to the customer and broker experience across the entire loan life cycle, and these upgrades will continue via a staged rollout that is expected to complete in early 2022.”
“A strong second half saw settlements of $2.7 billion, driving our record settlements figure to $4.8 billion. This is an increase of 25% compared to the first half.”
