MONEYME has announced its fourth-quarter trading update for the period ending June 30, showcasing substantial growth and robust loan performance.
Loan originations surged to $165 million for 4Q24, marking a 25% increase from the previous quarter and a 30% rise compared to the same period last year.
The gross loan book balance increased to $1.22 billion, up 6% from both the prior quarter and the same period last year, reflecting a strategic focus on secured loan assets.
“We are pleased to present our fourth quarter results, which finished the year strongly and marks our return to growth as we head into FY25,” said Clayton Howes (pictured above), MONEYME’s managing director and CEO.
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MONEYME reported gross revenue of $54m for 4Q24, a slight increase from $53m in the previous quarter, though down 5% from 4Q23. The net interest margin (NIM) remained steady at 10%, consistent with the previous quarter, indicating effective management of higher credit quality assets.
“We have navigated the high-interest-rate environment effectively, achieving a profitable outcome that we look forward to reporting in our full-year results,” Howes said.
The company has seen a significant improvement in the quality of its loan book.
Net credit losses were reduced to 4.5% for 4Q24, down from 4.8% in the prior quarter and 5.8% in 4Q23. The average credit score increased to 763, with secured assets making up 55% of the loan book.
“We continue to see the benefits of the credit quality of our loan book,” Howes said. “Net credit losses reducing to 4.5%, down from 4.8% in the prior quarter and 5.8% in 4Q23.”
MONEYME has also made significant strides in innovation.
The company launched a new mobile app with enhanced functionality, leveraging its proprietary technology platform, Horizon. Additionally, the credit decisioning engine was upgraded to optimize for volume, risk, pricing, and yield.
“During the quarter, we launched our new mobile app and several key technology updates, including enhancing our credit decisioning with advanced analytics,” Howes said.
MONEYME completed a $178m term securitisation in July, marking its first public transaction for FY25. This move provides further capacity for origination growth and underscores investor confidence in MONEYME’s growth profile.
“Debt capital investors continue to have conviction in MONEYME’s growth profile and the quality of the underlying assets,” Howes said. “Our first ABS transaction for FY25 saw strong investor engagement.”
Looking ahead, MONEYME’s management anticipates continued loan book growth, benefiting from scale and technology efficiencies to deliver profitable returns.
The focus will remain on high credit quality and secured assets, leveraging the demand for its secured car loan product, Autopay.
“With strong fundamentals, MONEYME’s business settings are now in place to deliver sustainable and profitable growth in the year ahead,” Howes said.
MONEYME will release its FY24 annual report on August 29, providing further details on its performance and future strategies.
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