Resimac Group Limited (AU:RMC) has released an update.
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Resimac Group Ltd, a leading non-bank lender, reported a significant increase in its Asset Finance business, reaching $1.1 billion in assets under management in FY24, despite facing challenges in the mortgage market due to competitive pressures. Interim CEO Susan Hansen highlighted a rebound in mortgage originations in the latter half of the year and a focus on risk-adjusted returns. However, the company’s net profit after tax fell to $43.1 million from $73.7 million in FY23, primarily due to a decline in prime mortgage lending.
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