Resimac Group Limited (AU:RMC) has released an update.
Resimac Group Limited reported a robust financial year with total settlements rising to $5.1 billion, driven by growth in both home loan and asset finance settlements. The company’s Assets Under Management increased slightly to $14 billion, and despite competitive pressures leading to reduced net profits, Resimac anticipates growth momentum to pick up in the following fiscal year. Provisions for doubtful debts rose to align with portfolio loss expectations, maintaining low arrears due to strong credit and recovery processes.
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