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Non-bank lender ropes in former uno CFO

Homeloans Ltd has announced the appointment of Jason Azzopardi as its chief financial officer, replacing Ian Parkes whose resignation was announced in April.

Mr Azzopardi joins the non-major lender after serving as CFO and company secretary at digital brokerage uno Home Loans.

He has also held senior positions at non-major banks Macquarie and Bankwest, and is currently a fellow of accounting body CPA Australia.

The new CFO is scheduled to start at Homeloans on 3 July 2018.

“We are delighted to welcome Jason to Homeloans,” Homeloans joint CEO Scott McWilliam said. “He has a strong track record in finance and as a transformational leader, and we look forward to him joining our leadership team.”

Mr McWilliam continued: “Jason’s vast experience, which spans the investment and mortgage sectors, means he is well placed in helping to continue to grow the business.

“We experienced a strong first half and are positive about the prospects for the business. Homeloans’ ability to provide a wide range of products to suit a broad range of borrower needs helps ensure that we stand apart from the majors. And Jason’s strong understanding of this sector and what drives customer and shareholder value stands us in good stead for the future.”

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The Australian Securities Exchange-listed non-bank lender recently announced a 20 per cent uptick in demand for its self-employed loan products in the first half of FY2018, attributing it to the nation’s growing gig economy increasing the number of small businesses.  

The non-bank lender said in May that it sees a strong growth opportunity within the self-employed market at a time when many other lenders are reluctant to offer home loan products to this customer segment, which Homeloans’ general manager of third-party distribution, Daniel Carde, said was because such borrowers are sometimes unable to provide the traditional financial statements required by most lenders.

Earlier this year, Homeloans revealed that its loan settlements had risen by 27.5 per cent in a year to $2.2 billion by 31 December 2017.

The non-major lender also reported a net profit after tax of $11.9 million in the first half of FY2018, aided by loan settlement growth and its 2016 merger with RESIMAC.

Its half-year financial results further showed that its loan book grew by 31 per cent from the previous corresponding period.

In addition, total principally funded loans and advances grew by 31 per cent to $7.6 billion, with total assets under management also increasing by 18.1 per cent from the previous corresponding period to $11.1 billion.

[Related: Risks shift to non-banks as majors tighten up]

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