Ann: FSA Group launches new Azora home loans business, page-2

Loss rates on their mortgage book is comparable to CBA.

Azora loss rates:
2015: 0.06%
2016: 0.17%
2017: 0.11%
2018: 0.14%
2019: 0.07%

CBA loss rate (see image):
2018: 0.16%
2019: 0.17%



Note the CBA RBS loss rate is inclusive of all retail lending, which includes credit cards and personal loans. But the mortgage book is a big part of this, so it wouldn't be too far off.

This RMBS issue should be interesting.


As for expected growth rate of Azora:

Over the next 5 years Azora’s Management Team will be aiming to:
- Grow its current loan pool from $382 million (June 2019) to circa $1.5 billion; and
- Grow annual PBT from $5.9 million (June 2019) to over $20 million per annum.

That implies a desired growth rate of ~30% per annum for 5 years in loan book size and PBT.