Record originations, wider margins, and a growing broker network have helped the non‑bank’s bottom line surge.
Latitude Financial Group Holdings Ltd (Latitude) – the consumer lender specialising in cards, retail finance, and personal loans – has reported a sharp rise in profits on the back of record originations and a bigger receivables book for the full year to 31 December 2025 (FY25).
New credit card spend and loan originations climbed to $9.1 billion in the financial year 2025, up 10 per cent year on year, as robust demand and refreshed products translated into market share gains, including an 8.91 per cent share of the Australian credit card market.
New volume in its Pay division (cards and retail finance) reached $6.2 billion in Australia and $1.18 billion in New Zealand, taking combined Pay volume to $7.4 billion, up 8 per cent on FY24.
The Money division – spanning personal and auto loans – also posted another step-up in flow.
New money volumes in Australia rose 8 per cent to $1.32 billion, while New Zealand volumes jumped 25 per cent to $313 million, underscoring strong demand across both sides of the Tasman.
New personal and auto loan originations reached a record $1.6 billion, up 11 per cent on FY24, with the second half delivering a fresh high of $850 million, 13.8 per cent higher year on year.
Latitude said around 54 per cent of 2H25 originations were variable‑rate loans and 46 per cent fixed, continuing a trend seen over the past 18 months as borrowers respond to the interest rate easing cycle.
The group credited new loan features, an improved customer experience and an expanded broker network – which now numbers about 5,500 accredited loan brokers – for the lift in volumes.
Receivables, margins, and profit surge
The stronger flow has fed directly into the balance sheet.
Gross receivables climbed 7 per cent to $7.2 billion – the highest level in five years – while net receivables rose to $6.8 billion from $6.4 billion.
Interest‑bearing receivables increased 8 per cent to $5.4 billion, with personal loan receivables hitting a record $3.3 billion as Latitude consolidated its position as one of the country’s largest personal lenders by brand.
Pay receivables across Australia and New Zealand reached $3.8 billion (up from $2.9 billion), with Australian Pay balances up 7 per cent to $3.1 billion.
Money receivables across both markets rose 10 per cent to $3.3 billion, including a 10 per cent rise in Australia to $2.76 billion.
Latitude said new receivable growth included $2.0 billion in Australian personal loans (up 14 per cent), $700 million in Australian auto loans (up 1 per cent), and $600 million in New Zealand personal loans (up 13 per cent).
Net interest margin expanded to 11.7 per cent, up 104 basis points year on year, reflecting pricing changes and a portfolio mix towards higher‑return products.
That translated into a strong bottom‑line result.
Cash net profit after tax rose 59 per cent to $105.1 million, while statutory NPAT jumped 208 per cent to $94.4 million as prior‑period one‑offs washed through.
Total application volumes increased 13 per cent, with 307,000 customers acquired over the year, and Pay applications rising from 475,000 to 540,000.
Outlook and ongoing investment
Managing director and CEO Bob Belan said the result showed Latitude could grow, while keeping margins and credit performance in check.
“The group’s performance demonstrates the ability to achieve strong growth while maintaining margins, disciplined credit outcomes and operating efficiency and supporting sustainable long-term value creation,” Belan said.
He noted that more stable macro‑economic conditions and the ongoing interest rate easing cycle were supporting net interest margin expansion and demand for credit.
Belan said Latitude would continue to invest in digitisation, artificial intelligence, and cyber security following its 2023 cyber incident, alongside enhancements to its broker platform.
[Related: Latitude origination volumes surge]
