Pepper Money Ltd
ASX:PPM
Pepper Money Ltd
Pepper Money engages in the provision of home, car, and personal loan services. The company is headquartered in Sydney, New South Wales. The company went IPO on 2021-05-25. The firm operates various businesses in Europe, Asia and the Pacific regions. The company targets customer segments such as non-conforming borrowers that are unable to satisfy the criteria of the Australia Banks. The company offers categories of products, which includes mortgages for residential home loans, asset finances primarily for used cars and, loan servicing for residential mortgages and personal loans. The company offers a range of loan portfolios on behalf of third-party clients in Australia, Ireland, the United Kingdom and Spain. Its services include lending, asset servicing, broker portal and debt investor.
Pepper Money engages in the provision of home, car, and personal loan services. The company is headquartered in Sydney, New South Wales. The company went IPO on 2021-05-25. The firm operates various businesses in Europe, Asia and the Pacific regions. The company targets customer segments such as non-conforming borrowers that are unable to satisfy the criteria of the Australia Banks. The company offers categories of products, which includes mortgages for residential home loans, asset finances primarily for used cars and, loan servicing for residential mortgages and personal loans. The company offers a range of loan portfolios on behalf of third-party clients in Australia, Ireland, the United Kingdom and Spain. Its services include lending, asset servicing, broker portal and debt investor.
Strong Originations: Total originations grew 38% year-on-year to $4.5 billion, with mortgage originations up 53% and asset finance originations up 19%.
Record AUM: Assets under management reached a record $20.1 billion, up 4% on the prior period.
Net Profit Growth: Net profit after tax for the half was $47 million, a 2% increase on the prior comparable period.
Disciplined Cost Control: Total expenses fell 2% to $116.7 million, with a lower cost-to-income ratio of 51.7%, improving by 1 percentage point.
Dividend Return: The Board declared a fully franked interim dividend of $0.064 per share and a special dividend of $0.125 per share, returning over $83 million to shareholders.
Stable Credit Performance: Mortgage and asset finance arrears remain stable or have improved, with credit performance well within historic averages.
Funding & Capital: $1 billion was raised via securitization and $1.7 billion via whole loan sales, increasing funding flexibility and supporting growth.
