Resimac Group Limited has delivered a strong earnings result for the financial year ended 30 June 2026, with normalised net profit after tax climbing 26 percent to $49.9 million, representing a marked improvement from the prior corresponding period. The statutory net profit after tax reached $49.2 million, up 42 percent, indicating substantial operating leverage as the non-bank lender continues to scale its franchise while managing credit risk effectively.
The result reflects disciplined growth across Resimac’s core businesses. Assets under management rose 4 percent to $16.5 billion, driven by a 10 percent increase in home loan balances to $14.7 billion. The home loans segment generated considerable momentum, with settlements increasing 20 percent during the year and origination volumes reaching $6.7 billion, up 16 percent from the prior year. Application volumes also strengthened, rising 17 percent to $10.5 billion, suggesting continued demand from both customers and brokers despite competitive pressures in the mortgage market.
Asset Finance, Resimac’s diversified lending platform, increased 7 percent to $1.5 billion, reflecting the group’s strategic pivot toward higher risk-adjusted returns rather than volume-focused growth. This shift aligns with the company’s evolving competitive positioning in a crowded non-bank segment where scale alone no longer guarantees profitability.
Operational performance has improved substantially. The net interest margin expanded 5 basis points to 159 basis points, benefiting from a full-year contribution of the Westpac Auto portfolio acquired in the prior year, improved funding economics, and stronger Asset Finance pricing. The cost to income ratio contracted 60 basis points to 53 percent, demonstrating genuine operating leverage as normalised operating income grew 17 percent, supported by higher asset balances and disciplined cost management despite continued investment in technology and capability.
Credit quality remained sound, with impairment expenses declining 5 percent to $21.4 million. The result reflects improved collection outcomes, disciplined arrears management, and prudent provisioning practices across both portfolios, providing comfort to investors concerned about economic headwinds.
Capital management has been particularly shareholder-friendly. The board declared a final dividend of 6.0 cents per share, up 2.5 cents from the prior year, bringing total FY26 ordinary dividends to 10.0 cents, up 43 percent. When combined with the special dividend of 9.0 cents distributed in March 2026, total FY26 distributions reached 19.0 cents per share, representing $75.2 million returned to shareholders. All dividends are fully franked, providing additional value to domestic investors.
Resimac enters FY27 with a strengthened earnings base, expanded home loan distribution, and access to deep funding markets. The group’s strategy centres on becoming “the Home of Intelligent Lending”, positioning the company to differentiate in an increasingly commoditised market through technology and customer understanding rather than competing on price alone. Investors should monitor momentum in home loan origination volumes, the sustainability of margin expansion, and the trajectory of impairment expenses as interest rate settings potentially shift. This announcement is price sensitive and has been flagged as material by the Australian Securities Exchange.
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About Resimac Group Limited (ASX: RMC)
Resimac is an ASX-listed mortgage bank providing residential mortgage lending and related financial services in Australia. The company originates and manages a portfolio of mortgages for borrowers across Australia. Resimac operates as a non-bank lender specializing in residential mortgage products and services.
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