Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Homeloans profit announced amid tough market conditions

Staff Reporter 3 minute read

Homeloans Ltd has reported a net profit after tax for the half year ending 31 December 2008 of 2.61 million – up 15 per cent on the previous corresponding period.

The result reflected an increase in net interest income of 3 per cent to $7.8 million and a hike in net fee and commission income of 6 per cent to $6.2 million, the lender said.

Total revenues grew by 3 per cent to $59.2 million while operating expenses (excluding loan loss provisioning) reduced by 20 per cent to $8.6 million.

While loan originations for the group had decreased verses prior periods, it had maintained access to a diversified wholesale funding base – which enabled it to continue to focus on maximising new loan originations during tough market conditions, executive chairman Tim Holmes said.

Advertisement
Advertisement

 

 

 

Homeloans profit announced amid tough market conditions
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

PROMOTED CONTENT


default

 

more from the adviser
Darren Stratford Dianne Robinson Kristie Oldfield ta RedZed appoints BDMs, product manager

The lender for self-employed borrowers has appointed two BDMs in ...

digital money ta Wisr closes $5m raise

Wisr has wrapped a $5 million capital raise to accelerate its loa...

digital signatures Suncorp enables e-signatures on post-approval loan docs

The non-major bank has said that it will accept e-signatures on p...