subscribe to our newsletter
Listed lender records 47% settlement growth

Listed lender records 47% settlement growth

ASX-listed lender DirectMoney has reported monthly unsecured personal loan settlements of $1.15 million in October.

In a trading update, the group said growth in loan volumes continues with the number of settlements up 47 per cent on the prior month (September loan settlements were $782,548.00).

DirectMoney has now written to approximately 490 borrowers. The group affirmed its ongoing focus on stringent credit assessment processes and the new product distribution agreements.

“Month-on-month loan settlements are growing at pleasing levels and this is reflected in our strategy of working with strong loan origination partners and building awareness of DirectMoney’s products directly with consumers,” DirectMoney executive chairman Stephen Porges said.

“The quality of loans written is also an important benchmark for the company, with strong credit assessment processes critical in building a quality loan book," he said.

“This is a key measure for DirectMoney and fundamental as we build our position as a leading Australian marketplace lender.”

Listed lender records 47% settlement growth
mortgagebusiness logo

Latest News

The international banking and financial system is rendering the Reserve Bank’s use of the cash rate mechanism obsolete, according to a mor...

Housing market downturns in Sydney and Melbourne are continuing to drive down national home prices, with the latest data from the Australian...

The Federal Court has approved an agreement between the Commonwealth Bank and AUSTRAC that will require the lender to pay a $700 million pen...

Promoted Stories

podcast

LATEST PODCAST: How the market has changed in the last 25 years, royal commission hearings, broker advocacy

Do you expect access to credit to get harder this year?