Resimac Group Reports Half-Year Results and Strategic Growth Initiatives

Resimac Group Ltd (ASX: RMC) reported a normalized NPAT of AU$15.0 million for the half-year ended 31 December 2024, excluding fair value gains/losses on derivatives. The Board declared a fully franked interim dividend of 3.5 cents per share, reinforcing its commitment to shareholder returns. Economic challenges, including higher-than-expected interest rates and rising living costs, have impacted loan performance, leading to increased arrears, financial hardship applications, and defaults. However, anticipated interest rate cuts in 2025 should ease pressures on customers. Despite a decline in NPAT due to higher impairment expenses, operating profit grew by over 20%, driven by AU$4.3 billion in home loan applications and AU$2.4 billion in settlements. Asset Finance AUM grew by 18%, strengthening future performance.

The company remains focused on being Australia’s leading non-bank lender, enhancing automation and digitalization to improve broker partnerships. Resimac also progressed in balance sheet diversification, finalizing an AU$1.5 billion auto loan portfolio acquisition from Westpac, set for completion in February 2025.

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