MONEYME's impressive Q1 FY25 performance

MONEYME (ASX:MME) has announced a strong performance in the first quarter of FY25, ending September 30, 2024. The company reported a 62% increase in loan originations from the previous year, with principal originations reaching $211 million. The gross loan book balance has grown to $1.3 billion. Net credit losses have decreased to 3.8%, and secured loans now make up 58% of the loan book.

Key highlights and future outlook for MONEYME

MONEYME has shown significant growth in its Q1 FY25 results, with a 62% increase in loan originations and a strategic shift towards secured lending. Principal originations reached $211 million, and the gross loan book balance increased to $1.3 billion. The company has decreased its net credit losses to 3.8% and improved its net interest margin to 9%. MONEYME completed significant financial transactions, releasing capital for future growth and reducing funding costs. The company has introduced new products and technology to enhance the customer experience and plans further enhancements to funding efficiency in FY25. As a Certified B Corporation, MONEYME is committed to sustainability and corporate responsibility. The management remains optimistic about achieving sustainable growth in the current macroeconomic environment.

Executive insights on MONEYME's growth strategy

We are pleased with the strong start to the fiscal year, with significant growth in strategic segments and improvements in credit quality.