H1 FY23 Financial Performance
Banking Business
Loan Originations ($'million)
1
-
H1 FY19 H1 FY23 CAGR +37%
-
227%
$10.5m
Overview
101%
1,279%
$72.7m
82%
97%
$37.4m
$36.2m
(93%)
$20.6m
$3.2m
H1
H1
FY17
FY18
H1
FY19
H1
FY20
$2.6m
H1
FY21
H1
H1
FY22
FY23
Merchant Deposits - Transaction and Term Deposit Accounts ($'million)
$21.6m
$41.6m
$104.0m
$100.8m
$95.0m
$9.5m
$2.2m
H1
FY17
H1
FY18
H1
FY19
H1
H1
H1
H1
FY20
FY21
FY22
FY23
•
Record lending originations of $72.7 million - up 101%
Lending originations averaging ~$3 million per week
Interest income of $5.2 million (pcp: $1.8 million)
Net interest margin¹ averaging 23.2% (pcp: 17.6%)
Lending loss to originations well managed - 1.2% (pcp: 0.3%)
Total loans held at 31 December 2022 - $44.5 million (30 June 2022: $39.5 million)
Average loan drawdown ~$47,300 (pcp: $41,200)
Average tenure of loans - 6 months
Positive growth in activated accounts - up 5.4%
6,400 activated accounts (pcp: 6,074)
Significant opportunity for growth with only ~10% of merchant base activated
Average balance of ~$14,000 per transaction account
Average balance of ~$60,500 per term deposit account
Average interest rate on transaction account of 1.07% (pcp: 0.25%)
Average interest rate on term deposit account of 2.24% (pcp: 0.70%)
Deposits of $95.0 million provides headroom for future loan-book growth
11
Net interest margin is calculated as interest income on loans less interest expense on deposits divided by the average monthly loan balance before fair value adjustments.View entire presentation