Commonwealth Bank of Australia’s internet-based direct lending arm Homepath has reported a net profit loss of $7.7 million in the year to end-June, reports The Australian Financial Review.
Documents lodged with ASIC noted Homepath faced a hefty rise in financing costs from $71.1 million to $92.4 million during the year, further contributing to the lending arm’s downsized profits.
Want to see more stories from trusted news sources?
Make The Adviser a preferred news source on Google.
Click here to add The Adviser as a preferred news source.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Tags:
