Resimac Group Limited has reported a significant earnings acceleration in FY26, with normalised net profit after tax climbing 26% to $49.9 million and normalised operating profit rising 18% to $92.9 million. This performance was achieved against a demanding macroeconomic backdrop of persistent cost-of-living pressures and elevated interest rates in Australia, demonstrating the underlying resilience of the group’s core lending model.
The earnings growth was primarily driven by the strength of Resimac’s home lending business, which remains the company’s primary earnings engine. Home loan settlements surged 20% to $5.9 billion while assets under management in this segment increased 10% to $14.7 billion. Combined with contributions from asset finance, total group assets under management reached a record $16.5 billion. The improvement in operational metrics is equally notable, with management reducing the cost-to-income ratio by 60 basis points to 53.0%, signalling improved operating leverage as revenue growth outpaced expense expansion. Loan impairment expenses declined 5% to $21.4 million, reflecting the benefit of proactive collections and improved recovery outcomes across the portfolio.
Management’s capital allocation strategy has delivered tangible returns to shareholders. The board declared a fully franked final dividend of 6.0 cents per share, bringing the total ordinary dividend to 10.0 cents for the full year, representing a 43% increase from FY25. When combined with a special dividend of 9.0 cents per share paid in March 2026, total shareholder distributions for FY26 reached 19.0 cents per share, or $75.2 million in aggregate. This dividend profile reflects management’s approach to balancing growth investment with prudent capital management and returning surplus capital to shareholders.
A key competitive advantage underpinning Resimac’s model is its diversified and stable funding platform. The group completed $5.5 billion in bond issuance during FY26 and achieved cumulative bond issuance exceeding $56 billion since the program’s inception in 1985. This capital-light securitisation model provides resilience through varying market conditions and enables the group to grow the loan book without requiring proportional increases in equity capital. Management notes that securitisation remains a key enabler of the group’s business model and a significant competitive differentiator.
Looking forward, Resimac is positioning itself for future growth through targeted technology investments. Management states that the group continues to invest in data, automation and artificial intelligence to enhance scalability, risk management and customer and broker experiences. These capabilities are expected to strengthen the group’s competitive positioning in what management describes as the pursuit of becoming the “home of intelligent lending.” The company has also published its inaugural annual sustainability report under Australian Sustainability Reporting Standards, reflecting enhanced governance around climate-related risks and opportunities.
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Investors should monitor the trajectory of home loan portfolio quality and growth rates as the macroeconomic environment evolves. Tracking changes in funding costs, securitisation activity and management’s progress in rolling out AI-driven improvements to underwriting and operational efficiency will also be important for assessing the sustainability of current earnings momentum.
View the full ASX announcement (PDF)
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 is a non-bank lender specializing in residential mortgage products and services.
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