PRIVATE EQUITY
Integrated exceeds $7.7b milestone
This represents a 54% growth rate year on year and a ~30% growth rate per annum since 30 June 2015.
The Group has achieved net revenue growth of 8.1% YoY coupled with operating expenses reduction of 4.3% YoY contributing to growing profitability.
Portfolio company BNK Group (comprising Finsure, Better Choice Home Loans and BNK Bank) continues to achieve growing operating leverage in 1QFY21.
BNK Key Metrics
The Group has achieved net revenue growth of 8.1% YoY coupled with operating expenses reduction of 4.3% YoY contributing to growing profitability. The Group’s total loan book grew to $50.1b at the end of the quarter and surpassed the critical $50b milestone. The growing scale of the Finsure aggregation business creates great opportunity for the BNK Bank and Better Choice businesses to manufacture high-margin products and continue to grow loan assets.
The Group ended the quarter with a strong Group balance sheet with $83m of cash and liquid holdings and a capital adequacy ratio of 21.8%.
Aura Group is proud to have been associated with the Finsure aggregation business since inception and remains a supportive shareholder of BNK Group.
In addition to the metrics above, Finsure currently has 1,816 accredited brokers, a year on year (“YoY”) increase of 10.7%.
Finsure Aggregation Update
Finsure achieved another record quarter of both settlements and broker recruitment with settlements accelerating to $4.61b up 32.9% YoY eclipsing last quarter’s record-breaking levels and net broker recruitment of 76 bringing total brokers to 1,816 at quarter-end. Finsure’s market share continues to grow through 1QFY21 recording an all-time monthly record of $1.75b in settlements during September 2020, an annualised run rate now in excess of $20b pa.
Loan lodgements during the quarter surpassed $11b with 24,900 loans lodged for the first time up 31% YoY and 6% quarter on quarter. These figures are good forward-looking indicators for the business. With record low-interest rates, Finsure expects continued buoyant demand for residential mortgage finance.
For more information, please view BNK’s website.
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