NEWS
LENDERS ANZ MOULA ANNOUNCES JOINS PANEL PROFIT AT OF AGGREGATOR ALMOST $3BN FAST has reported strong results for the first half of 2021, posting a statutory profit of almost $3bn. That marks a 113% rise on the period up to March 2020, and 45% on the second half of 2020. Cash profits were up 28% on SH20, and the proposed interim dividend to shareholders will be 70c per share. ANZ said it had provided around 92,000 new home loan accounts in the previous half year, lifting it above NAB to become the third-largest provider of mortgages. ANZ
NAB DOUBLES DIVIDEND AFTER $3.34BN PROFIT has exceeded expectations by posting a first-half 2021 profit of $3.34bn. Its interim dividend to shareholders will be double last year’s, rising to 60c a share. NAB’s statutory net profit was $3.21bn, largely due to the rise in the Australian economy, fuelled by the COVID-19 recovery and huge growth in the housing market. “The rebound in the Australian and New Zealand economies from COVID-19 has been better than expected,” said CEO Ross McEwan.
Martin Barry, chief financial officer, La Trobe Financial
Daniel Carde, general manager distribution, Resimac
NAB
“The proceeds of this $1.25bn [RMBS] issue will be used by La Trobe Financial to continue writing home and business loans for everyday underserved Australians” Martin Barry CFO, La Trobe Financial
Greg O’Neill President and CEO, La Trobe Financial
NON-BANK LENDERS PROVE STRENGTH WITH MASSIVE FUNDING DEALS The non-bank sector is enjoying tremendous growth, with La Trobe Financial and Resimac securing record amounts in residential mortgage-backed securities deals lender La Trobe Financial has announced a record residential mortgage-backed securities transaction priced at $1.25bn. It is the biggest deal the group has achieved since before the GFC. The transaction is the lender’s first of 2021 and represents the confidence La Trobe Financial can now command from investors. It has fully repaid $30bn in debt since 2014 and is continually growing new business in the home loan market. All notes were oversubscribed, showing how much confidence funding houses have in La Trobe NON-BANK
Financial. In particular, the non-bank’s strength in writing home loans for self-employed Australians, an inadequately serviced part of the mortgage marketplace, has built its reputation. La Trobe Financial’s average LVR is 71%, and no mortgages are priced at over 80% LVR, making its risk lower than that of many other lenders in the sector. “We are very pleased with the record pricing this RMBS transaction has achieved, proving the ongoing appetite of our global investor base for our high-quality assets,” said La Trobe Financial CFO Martin Barry.
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“The proceeds of this $1.25bn issue will be used by La Trobe Financial to continue writing home and business loans for everyday underserved Australians at a time when credit formation has never been so vital.” Non-bank lender Resimac also recently announced its second huge RMBS deal this year involving a $1bn transaction. The group closed its Resimac Bastille Series 2021-1NC non-conforming transaction on 5 May, following a $1.5bn deal struck in mid-March. That prior deal was Resimac’s largest since 2006. “This latest RMBS issuance enables us to continue supporting the many small businesses and self-employed Australians with access to credit at a time it could make a material difference,” said Resimac general manager distribution Daniel Carde.
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