MONEYME posts $54 million in revenue from strong loan performance
ASX-listed fintech lender MONEYME have provided its fourth quarter trading update for the period ending 30 June 2024.
Trading Highlights saw loan originations increased to $165 million for 4Q24 ($133m, 3Q24; $127m, 4Q23), up 25% on the prior quarter and up 30% on prior comparable period (pcp), reflecting strategic growth in target segments.
Gross loan book balance increased to $1.22 billion for 4Q24 ($1.15bn, 3Q24; $1.15bn, 4Q23), up 6% on the prior quarter and pcp, with an increased ratio of secured loan assets.
Gross revenue of $54 million for 4Q24 ($53m, 3Q24; $56m, 4Q23), up 1% on the prior quarter and down 5% on pcp, reflecting our shift to higher credit quality and secured assets.
Clayton Howes (pictured), MONEYME‘s Managing Director and CEO. said, “We are pleased to present our fourth quarter results, which finished the year strongly and marks our return to growth as we head into FY25. We have navigated the high interest rate environment effectively, achieving a profitable outcome that we look forward to reporting in our full-year results.
“Loan originations grew by 25% to $165 million in the quarter, increasing our loan book to $1.22 billion. We continue to see the benefits of the credit quality of our loan book, with net credit losses reducing to 4.5%, down from 4.8% in the prior quarter and 5.8% in 4Q23. The average credit score now sits at 763 and secured assets at 55% of the loan book, while net interest margin (NIM) remained strong at 10%.
“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 as we resume growth.
“Debt capital investors continue to have conviction in MONEYME’s growth profile and the quality of the underlying assets. Our first ABS transaction for FY25 saw strong investor engagement, and looking ahead, we will continue to leverage domestic and international debt capital markets for price advantages.
“With strong fundamentals, MONEYME’s business settings are now in place to deliver sustainable and profitable growth in the year ahead,” Howes ended.
