Resimac Group Limited ( (AU:RMC) ) has shared an announcement.
Resimac Group Ltd has successfully completed the acquisition and migration of Westpac Banking Corporation’s auto finance and novated leasing portfolio, valued at approximately $1.5 billion and serving around 100,000 customers. This acquisition enhances Resimac’s strategy to diversify its product offerings and customer base in the consumer auto finance sector, increasing its total assets under management to $15.7 billion. Interim CEO Susan Hansen emphasized the transaction’s role in Resimac’s growth strategy, showcasing the company’s capabilities in data migration and funding execution, while indicating ongoing interest in further acquisitions aligned with their growth objectives.
More about Resimac Group Limited
Resimac Group Ltd is a leading non-bank lender and multi-channel distribution business that originates, services, and funds prime and non-conforming residential mortgages and asset finance products. Operating across Australia, New Zealand, and the Philippines, Resimac manages over $15.7 billion in assets, including a substantial portfolio of home loans and asset finance. The company has issued nearly $50 billion in bonds in domestic and global markets since 1987, leveraging a diversified funding platform for both short-term and long-term asset funding.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €219.8M
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