• Operating profit before impairment expense and tax up 20%
• Normalised NPAT down 12.2%, Statutory NPAT down 6.9%
• AUM increased 1% to $14.2 billion, origination volumes up 5.6%

Resimac Group Ltd (ASX: RMC) has reported its results for the half year ended 31 December 2024, with a normalised NPAT of $15.0 million, excluding fair value gains/losses on derivatives. The Board has announced a fully franked interim dividend of 3.5 cents per ordinary share, recognizing the significance of consistent dividends for its shareholders. The Group's operating profit before impairment expense and tax increased by 20%, while normalised NPAT decreased by 12.2% and statutory NPAT decreased by 6.9% due to higher impairment expenses. AUM increased 1% to $14.2 billion, with home loans up 1% to $13.0 billion and asset finance up 9% to $1.2 billion. Origination volumes were up 5.6% to $2.8 billion, and application volumes increased by 39% to $5.0 billion. The Group's NIM decreased by 5 bps to 1.48%, and operating expenses improved by 1%. Impairment expenses were $14.8 million, with collective provisioning increasing by $8.2 million and net write-offs of $6.6 million.

The Group expects the much-anticipated interest rate reductions in the 2025 calendar year to provide a welcome relief to its customers.

The Group remains focused on being Australia's top non-bank lender through a broker and customer-focused growth strategy, with ongoing digital transformation and balance sheet diversification. The Westpac auto portfolio acquisition is an exciting milestone for the organization.