Liberty Financial Group (ASX: LFG) banks on diversification to drive portfolio growth

Mon 04 Sep 23, 10:38 AM | Team Kalkine

Image source: © Kuprevich | Megapixl.com

Highlights

Liberty Financial is a diversified financial company with operations in New Zealand and Australia.

In comparison to its bank and non-bank peers, LFG has delivered the highest ROE to leverage ratio in FY23.

In FY24, the company expects to register continued portfolio growth.

Liberty Financial Group Limited (ASX: LFG) is a speciality finance company that offers motor vehicle finance, residential and commercial mortgages, personal and business loans, general insurance and brokerage services. The diversified financial company has delivered the highest ROE to leverage ratio in the financial year 2023 (FY23) compared to its non-bank and bank peers. In addition to this, LFG delivered leading outcomes in the peer group in terms of capital strength, cost-to-income ratio and net interest margin.

During FY 23, LFG’s total revenue zoomed by 41.8% YoY to AUD 1,232.6 million, while the underlying NPATA dropped by 19.3% YoY to AUD 186.6 million. The yearly profit fell because of the increase in the non-cash collective provision and the decrease in net interest margin.

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