• Launch of Bennji, a dedicated commercial finance platform to capture share in Australia's $22bn addressable market
• Achieved ISO 27001 certification, reinforcing customer data protection and strengthening security framework
• Completed repurchase of 14.3 million shares, representing 6.8% of the register, delivering immediate value to shareholders

Solvar Ltd reported a strong performance in FY25, with the Australian operations delivering a normalised NPAT of $32.0 million, a 6.2% increase from the prior year. The company's loan book in Australia grew by 5.3% to $832.7 million, driven by organic growth. Solvar also launched Bennji, a dedicated commercial finance platform, in May 2025, targeting the $22 billion addressable market. The company achieved ISO 27001 certification, reinforcing its commitment to protecting customer data and strengthening its security framework. Solvar completed the repurchase of 14.3 million shares, representing 6.8% of the register, delivering immediate value to shareholders. The group's normalised NPAT was $34.1 million, a 17.4% increase from the prior year, driven by revenue growth in Australia offsetting the loan book contraction in New Zealand. The company maintained a stable bad debt ratio of 4.4% and expects to maintain a similar dividend payout ratio in FY26. Solvar is focused on disciplined credit quality, the transition of Bennji from the build to growth phase, and the continued review of Money3 lending products and underwriting practices.

The group expects loan book growth driven by the new Bennji commercial loans, with bad debts expected to be in the range of 3.5%-4.5%. The company expects to maintain a similar dividend payout ratio in FY26.

Solvar is focused on disciplined credit quality, the transition of Bennji from the build to growth phase, and the continued review of Money3 lending products and underwriting practices. The company expects a rate cutting cycle to drive positive consumer sentiment, while the non-bank sector will continue to face regulatory focus.