MoneyMe Posts 43% Rise in Fiscal Q3 Loan Originations; Shares Up 12%

MT Newswires Live04-22

MoneyMe (ASX:MME) said loan originations for the fiscal third quarter reached AU$325 million, up 43% from AU$227 million a year earlier, with the loan book growing 29% to AU$1.9 billion, according to a Wednesday Australian bourse filing.

The company said gross revenue for the three months to March 31 was AU$62 million, up 17% from AU$53 million in the prior corresponding period, with risk-adjusted net interest margin improving to 2.4% from 1.6%.

Net credit losses improved to 2.6% from 3.7%, while 90-plus day arrears decreased to 84 basis points from 131 basis points in the prior corresponding period, the filing added.

The company's shares rose almost 12% in recent Wednesday trade.

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