Resimac's 20% Settlement Jump Signals Non-Bank Momentum

Resimac's FY26 results show the non-bank sector is gaining ground, with broker-driven settlements up 20% and profit rising 26% year-on-year.

Non-bank lender Resimac Group has reported a strong full-year result, with normalised net profit after tax rising 26% to $49.9 million for the year ended 30 June 2026. For borrowers who may not fit neatly within the lending criteria of the major banks, the result is worth paying attention to: it confirms the non-bank sector has genuine depth and financial stability behind it.

Australian Broker reports that statutory NPAT rose further, up 42% to $49.2 million, while normalised operating profit before impairment expense and tax increased 18% to $92.9 million. Group assets under management grew 4% to $16.5 billion.

Home lending did the heavy lifting. Home loan assets under management expanded 10% to $14.7 billion, with settlements jumping 20% from $4.9 billion in FY25 to $5.9 billion in FY26. Total origination volumes grew 16% to $6.7 billion, and application volumes reached $10.5 billion, up 17% year-on-year.

Brokers at the Centre of the Result

CEO Pete Lirantzis was direct about who drove the growth. "Brokers were central to Resimac's success in FY26. More brokers chose to use us more often, reflecting the strength of our proposition and the confidence they have in our ability to support a broader range of customers," he said.

Non-conforming settlements reached $3 billion over the year, slightly ahead of prime settlements at $2.9 billion. Non-conforming loans currently comprise nearly 66% of Resimac's overall portfolio, with owner-occupier loans accounting for around 53%. However, prime loans accelerated through the back half of the year, representing more than half of all new settlements in the second half — a signal that Resimac is expanding its reach beyond its traditional non-conforming base into a broader prime borrower market.

The credit quality picture was also positive. Prime home loan arrears at 90 days or more held steady at 0.41%, and collective provision coverage was reduced by 2 basis points to 20 basis points, reflecting improved portfolio quality as prime originations picked up momentum. The Adviser reports that mortgage application volumes climbed from $7.6 billion to $9.4 billion over FY26, with the broker channel cited as a key driver of both application flow and conversion.

Asset finance also performed. Resimac's asset finance assets under management rose 7% to $1.5 billion, with the Westpac Auto portfolio — acquired the previous year — contributing $9.4 million to the group's operating profit. Asset finance settlements were deliberately moderated to $800 million, down from $900 million, as Resimac focused on higher risk-adjusted returns rather than volume.

What This Means for Borrowers

Group net interest margin improved 5 basis points to 159 basis points, helped by improved funding economics and the Westpac Auto contribution. The cost-to-income ratio improved 60 basis points to 53%, and impairment expenses fell 5% to $21.4 million — the kind of operational discipline that underpins a lender's ability to price competitively while maintaining service quality.

The board declared a fully franked final dividend of 6 cents per share, bringing ordinary FY26 dividends to 10 cents per share, up 43% on FY25. Combined with a 9-cent special dividend paid in the first half, total FY26 dividends reached 19 cents per share — worth $75.2 million returned to shareholders. A non-bank actively returning surplus capital is one with a stable financial footing.

Looking into FY27, Lirantzis outlined priorities centred on intelligent lending, scalable growth and stronger returns. These include growing home loan assets under management "sustainably through stronger propositions, retention and broker execution," using AI and automation to improve decisioning speed and productivity, and deepening broker partnerships to personalise service.

For borrowers who are self-employed, have variable income, or have a credit profile that major bank automated systems tend to score conservatively, non-bank lenders like Resimac often offer more flexible policy and a more individualised credit assessment process. Non-conforming settlements of $3 billion in a single financial year demonstrate genuine market demand for that flexibility.

If you are comparing options in the current rate environment — with the RBA's cash rate sitting at 4.35% following its August meeting — our cheapest home loans page includes competitive non-bank products alongside major bank offers, and our refinance savings calculator can show you in dollar terms what switching from your current rate could be worth each month.

Read the full Australian Broker report.