Resimac Group Lifts FY26 Profit 42% on Home Loan Acceleration

Resimac Group (ASX: RMC) has lifted statutory net profit after tax 42% to $49.2 million for the 2026 financial year, supported by stronger Home Loan growth, improved margins, and lower impairment expenses.

Normalised NPAT increased 26% to $49.9m, while normalised operating profit before impairment expense and tax rose 18% to $92.9m as operating income growth outpaced expenses.

Total assets under management (AUM) increased 4% to $16.5 billion, led by a 10% rise in Home Loan AUM to $14.7b and 7% growth in Resimac-originated Asset Finance AUM to $1.5b.

Shareholder returns also increased, with ordinary fully franked dividends rising 43% to 10 cents per share and a nine-cent special dividend taking total FY26 dividends to 19 cents per share.

Home Loan Momentum Building

Home Loan settlements increased 20% to $5.9b from $4.9b as applications reached $9.4b, helping closing Home Loan AUM rise by $1.3b over the year.

Average Home Loan AUM reached $13.7b, while the portfolio mix shifted further towards prime lending, which represented 57% of Home Loan AUM at the June 2026 close.

Resimac deliberately moderated Asset Finance settlements to $0.8b from $0.9b as it focused on products offering higher risk-adjusted returns, even as average Asset Finance AUM increased 17%.

Normalised operating income rose 17% to $197.8m and operating expenses increased 16% to $104.9m, reducing the normalised cost-to-income ratio by 60bps to 53.0%.

Total loan impairment expense declined 5% to $21.4m, with Resimac attributing the improvement to disciplined collections management, improved recovery outcomes and prudent provisioning across its Home Loan and Asset Finance portfolios.

Margins and Credit Strengthen

Group net interest margin (NIM) increased five basis points to 159bps, supported by stronger Asset Finance margins, improved funding economics, and the full-year contribution from the Westpac Auto Portfolio.

Home Loan NIM remained flat at 131bps despite competitive conditions, while Asset Finance NIM increased 13bps to 312bps as Resimac refined its product mix towards higher-return lending.

“FY26 was a year of stronger earnings, disciplined growth, and improved returns—we grew operating profit, expanded margins, maintained strong credit quality, and increased shareholder returns while continuing to invest in the foundations of future growth,” chief executive officer Pete Lirantzis said.

“Momentum in our core Home Loans business strengthened during the year, [while] our Asset Finance business continued to focus on higher risk-adjusted returns and profitability rather than volume growth.”

Improved Funding Capacity

Resimac issued $5.0b of residential mortgage-backed securities and $0.5b of asset-backed securities during FY26.

Aggregate bond issuance since inception has reached almost $60b, while the group continues to use a mix of bank warehouse facilities and global securitisation funding to support portfolio growth.

The board declared a fully franked final dividend of six cents per share, which together with the four-cent interim dividend lifted ordinary FY26 dividends to 10 cents per share from seven cents in FY25.

Resimac enters the 2027 financial year focused on sustainable Home Loan AUM growth, disciplined Asset Finance origination, productivity gains through AI and automation, prudent credit management, and balanced capital allocation.