$1.5bn asset finance book was acquired last October
Resimac Group has successfully completed the migration of 100,000 customers from Westpac’s auto finance and novated leasing back book following the $1.5 billion portfolio acquisition announced last October.
The migration marks a significant expansion of Resimac’s asset finance business, which forms part of the non-bank lender's growth strategy.
“We are excited to have reached this critical milestone in our journey to increase assets under management (AUM) and build out our consumer auto finance and novated leasing offerings,” said Susan Hansen, Resimac’s interim chief executive.
“This migration represents more than just the transfer of customers – it is a pivotal moment that allows us to strengthen our position in the market and broaden our product suite, paving the way for more choice, flexibility, and innovation in auto finance solutions.”
Resimac continues to target stable, long-term returns for investors as it continues to expand its product offerings across Australia.
“As a leading non-bank, Resimac is committed to offering more finance options to a diverse range of Australians,” Hansen said. “Our expanded asset finance business allows us to cater to the evolving needs of customers, delivering solutions that support financial inclusion and help Australians manage their financial goals.”
