Resimac Group has reported a robust first-half performance to 31 December, combining higher earnings and sizeable capital returns in a signal of confidence to the broker market. Operating profit before impairment expense and tax rose 44% to $51.7 million, while normalised NPAT jumped 97% to $29.6 million and statutory NPAT more than doubled to $28.5 million.
Net interest income rose 26% year-on-year to $99,568,000, reflecting the contribution from the acquired Westpac auto loan and lease book plus cheaper wholesale funding as BBSW sat below the Reserve Bank (RBA) cash rate. Group NIM expanded 15 basis points in 1H26 to 163bps, driven by a shift in portfolio mix as higher-margin asset finance increased its share following the Westpac auto acquisition.
Operating costs climbed 24% to $53,493,000 as Resimac absorbed roughly 100,000 Westpac auto customers, lifting professional fees and staffing costs tied to integrating and servicing the portfolio. Despite this investment, the group’s cost-to-income ratio improved by 310bps to 50.0%, reflecting productivity gains from earlier spend on people, technology, and process.
Total settlements reached $3.1 billion, up 11% on the prior corresponding period, as Resimac focused on deepening broker relationships, refining credit settings, and streamlining end-to-end assessment to reduce turnaround times.
Commenting specifically on the impact brokers have made to Resimac’s results, CEO Pete Lirantzis (pictured) said: “The broker channel has played a pivotal role in delivering this strong first‑half performance. They’ve continued to bring high‑quality customers, challenged us to keep improving, and collaborated closely as we enhance our technology and service model. Simply put, brokers have been central to the momentum we’ve seen.
“By investing in a smoother, more consistent broker and customer experience, we’re earning trust and that’s translating into repeat business. Brokers are choosing to return because they value our specialist support, flexible credit options, and timely updates, and that loyalty is playing a significant role in our growth. We recognise and value their commitment, knowing there’s much more to come.”
AUM increased 11% year-on-year to $15.7 billion, including $13.6 billion in home loans (up 5%) and $1.5 billion in Resimac-originated asset finance (up 25%). Resimac also reported lower arrears and higher cure rates, with impairment expenses falling to $9.7 million as proactive arrears management and stronger recoveries supported provision releases.
The 2025 rate cuts helped ease pressure on borrowers, although a subsequent cash-rate increase in February underscored the need for ongoing vigilance as households continue to face cost-of-living pressures.
To back its growth plans, Resimac issued $3.2 billion equivalent of new RMBS and ABS to support AUM growth, manage term duration and optimise funding costs.
Shareholders will receive a fully-franked interim dividend of 4 cents per share and a fully-franked special dividend of 9 cents per share. The interim dividend is up 14% on the prior corresponding period, bringing the total 1H26 payout to 13 cents per share, or $51.4 million.
Looking ahead, Lirantzis said the 1H26 result is helping to set up the Group’s longer-term strategy.
“By focusing on our core mortgage business, investing in the broker and customer experience and optimising the asset finance portfolio, we are positioning the Group for long-term, sustainable growth,” he said.
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