There was a high proportion of 3-year unsecured loans on our loan book in past years. A lot of those have rolled off already. We now have a loan book that is predominantly 5 to 7-year secured loans. I expect to see loan book growth accelerate with these longer tenor loans.
Excerpt from the 4Q24 trading update:
"Loan originations increased to $165m for 4Q24 ($133m, 3Q24; $127m, 4Q23), up 25% on the prior quarter and up 30% on prior comparable period (pcp), reflecting strategic growth in target segments."
Loan originations have increased sharply and there are fewer shorter term loans rolling off the loan book. I believe that the organic growth story is strong for MME, macroeconomic factors permitting.
Ann: FY24 Results Investor Presentation, page-26
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