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Resimac Group Navigates Profit Dip Amid Rising Asset Finance Provisions
9:38am on Tuesday 18th of February, 2025 AEDT
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Financial Services
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Resimac Group Navigates Profit Dip Amid Rising Asset Finance Provisions
9:38am on Tuesday 18th of February, 2025 AEDT
Key Points
12% decrease in normalised net profit after tax to $15 million in 1H25
20% increase in operating profit driven by growth in assets under management
Significant rise in collective provisioning by 18%, reaching $54.3 million
Asset finance portfolio arrears and net write-offs more than doubled
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