Resimac Group (ASX: RMC) banks on digitisation for AUM growth, operational efficiency

Mon 09 Oct 23, 12:29 PM | Team Kalkine

Image source: Pixabay

Highlights

Resimac aims to emerge as the non-bank lender of choice

In FY23, the company delivered statutory NPAT of AUD 66.5 million

AUM and home loan settlements during the period reduced, while asset finance settlement surged by 19%

Resimac Group Ltd (ASX: RMC) is a non-bank lender and a multi-channel distribution business in Australia, New Zealand and the Philippines. The company is engaged in originating, servicing and funding asset finance products and non-conforming residential mortgages. It operates in New Zealand, the Philippines and Australia.

The company registered an NPAT of AUD 73.7 million and a statutory NPAT of AUD 66.5 million in the financial year 2023 (FY23). The period saw a 600 bps increase in the cost to income ratio to 43.6% because of increased operating expenses in the first half of FY23.

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