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Homepath?s profits squeezed by credit slump

Staff Reporter 1 minute read

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.

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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.

Homepath?s profits squeezed by credit slump
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