The non-bank also supports a charity event that will be held in April
An award-winning ASX-listed non-bank lender has reported half-year financial performance that exceeded market expectations during a challenging period for customers.
For the half-year ended December, Liberty Financial Group’s financial assets increased by 6% to $13.2 billion and its statutory NPAT fell to $104 million, as a result of not passing all costs of funding increases to customers. The group’s underlying NPATA, meanwhile, was at $104.8 million, after removing non-recurring items.
“Importantly, we were able to continue helping more people with their finances during uncertain economic times,” said James Boyle, Liberty Financial CEO (pictured above).
Peter Riedel, Liberty Financial CFO, said the company’s capital and liquidity position remains in a strong position to support our growth ambition.
“LFG raised and renewed $5 billion in funding since June 30, 2022, and Standard and Poor’s affirmed Liberty’s investment grade corporate rating as BBB (positive outlook),” Riedel said.
Liberty Financial’s net interest margin of 2.87% for the half-year was higher than market expectation, which according to Riedel, further demonstrated the company’s focus on building durable business value.
Boyle noted that LFG customers have demonstrated tremendous resilience in responding to the rate hikes.
“As interest rates rise, we will continue to actively work with our customers to manage the impact of higher repayment obligations,” he said.
Recently, Liberty Financial, winner of MPA’s Brokers on Non-Banks award for top choice of brokers in 2022, announced that it will extend its partnership with the Run the Tan charity event, which aims to raise $100,000 to help support Australian mental health charity partners including Beyond Blue, Lifeline, Headspace, and Black Dog Institute.
The partnership extension now sees LFG having overall naming rights for the 2023 event that will be held at the iconic Tan Track around Melbourne’s Royal Botanic Gardens on April 30. The non-bank will also drive support for the event through its Liberty Celebrity Challenge feature race for sporting identities and celebrities.
To register for Run the Tan 2023, visit runthetan.net. Donations to any of the event charity partners can also be made online until the event date.
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