3 minute read
Lenders
by Key Media
NEWS LENDERS
MOULA JOINS PANEL AT ANZ ANNOUNCES PROFIT AGGREGATOR FAST OF ALMOST $3BN
ANZ has reported strong results for the fi rst half of 2021, posting a statutory profi t of almost $3bn. That marks a 113% rise on the period up to March 2020, and 45% on the second half of 2020. Cash profi ts 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.
NAB DOUBLES DIVIDEND AFTER $3.34BN PROFIT
NAB has exceeded expectations by posting a fi rst-half 2021 profi t of $3.34bn. Its interim dividend to shareholders will be double last year’s, rising to 60c a share. NAB’s statutory net profi t 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 CFO, La Trobe Financial
Martin Barry, chief fi nancial o cer, La Trobe Financial Daniel Carde, general manager distribution, Resimac
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
NON-BANK lender La Trobe Financial has Financial. In particular, the non-bank’s strength in writing home announced a record residential loans for self-employed Australians, mortgage-backed securities an inadequately serviced part of transaction priced at $1.25bn. the mortgage marketplace, has It is the biggest deal the group has built its reputation. achieved since before the GFC. La Trobe Financial’s average
The transaction is the lender’s LVR is 71%, and no mortgages are fi rst of 2021 and represents the priced at over 80% LVR, making confi dence La Trobe Financial can its risk lower than that of many now command from investors. other lenders in the sector. It has fully repaid $30bn in debt “We are very pleased with the since 2014 and is continually record pricing this RMBS growing new business in the home transaction has achieved, proving loan market. the ongoing appetite of our global
All notes were oversubscribed, investor base for our high-quality showing how much confi dence assets,” said La Trobe Financial funding houses have in La Trobe CFO Martin Barry.
“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 di erence,” said Resimac general manager distribution Daniel Carde.
Greg O’Neill President and CEO, La Trobe Financial
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