Listed non-bank lender Homeloans has explained how it plans to continue differentiating itself in the market against ongoing pricing and policy changes.
Speaking to shareholders at Homeloans’ annual general meeting last week, chairman Rob Scott said the lender’s diversified funding platforms provide an opportunity to further grow the business and differentiate itself in the face of the changing pricing and policy dynamics.
“Given these factors, as well as a continuation of a stable rate outlook, we expect the result for the first half of 2015-16 to be broadly in line with the second half of 2014-15,” he said.
“Our strategy remains unchanged – that is, to grow and diversify the business. This includes continuously assessing and enhancing product and service offerings across Homeloans’ third-party broker partners and direct retail networks, as well as pursuing the expansion of our broker and direct retail distribution footprint, either organically or via acquisition.”
With brokers now representing more than 50 per cent of all new loans acquired in Australia, Mr Scott said the lender expects the third-party channel to continue growing, “and it therefore remains of key importance to Homeloans’ distribution strategy”.
Furthermore, Mr Scott said Homeloans’ sponsor relationship with the Perth Scorchers T20 Big Bash League cricket team has provided an effective platform for national exposure of the Homeloans brand.
“The Homeloans brand will shortly feature again as we approach the 2015 T20 Big Bash League,” he said.
Homeloans recorded a statutory net profit after tax of $5.6 million for 2014-15, with total settlements up 14.9 per cent on the previous year, and branded settlements up 23.7 per cent to a milestone $1 billion for the year.