ASX-listed fintech lender MONEYME delivers 62% growth in loan originations
ASX-listed MONEYME have provided its first quarter trading update for the period ending 30 September 2024.
Key features of the results were that principal originations increased to $211 million for 1Q25 ($165m, 4Q24; $130m, 1Q24), up 62% on prior comparable period (pcp) and up 27% on the prior quarter, reflecting growth in strategic target segments.
Gross loan book balance increased to $1.3 billion for 1Q25 ($1.2bn, 4Q24; $1.1bn, 1Q24), up 8% on the prior quarter and pcp, with an increased ratio of secured loan assets.
MONEYME achieved gross revenue in excess of $50 million for 1Q25 ($54m, 4Q24; $55m, 1Q24), reflecting an increased ratio of secured loans and higher credit quality customers.
Clayton Howes, MONEYME’s Managing Director and CEO, said, “We are pleased to present our first quarter results, which has started the year strongly and continues our return to growth in FY25. We continue to navigate the challenged macroeconomic environment effectively, growing in targeted segments whilst increasing the mix of secured assets and delivering strong credit performance.
“Principal originations grew by 27% to $211 million in the quarter, increasing our loan book to $1.3 billion. We continue to see the benefits of the credit quality in our loan book, with net credit losses reducing to 3.8%, down from 4.5% in the prior quarter and 4.4% in 1Q24. The average credit score now sits at 774 and secured assets at 58% of the loan book, with a (Net Interest Margin) NIM at 9%.
“It was great to see another quarter of high customer satisfaction and a net promoter score (NPS) of 69, as we continued to enhance customer experiences. During the quarter, we launched our new mobile app and several key technology updates, including enhancing our credit decisioning with advanced analytics to optimise pricing and provide further confidence in our returns as we resume growth.
“Debt capital investors continue to have conviction in MONEYME’s growth profile and the quality of the underlying assets. Our $178 million personal loan and $517 million Autopay term securitisations completed year to date provides us with a lower cost of funds and increased capacity for originations growth.
“Strong execution of our business strategy and with a focus on sustainable growth, continues to set the business up for long term success,” Howes ended.
