Ann: Resimac's normalised NPAT increases to a record $104 million, page-35

A 37% ROE is unrivalled in the industry. Also brokers are gravitating to non-bank lenders. There is less channel conflict compared to the banks who have their own branches and internal channels. Non-bank lenders are going to take a look at all deals.... even if the client doesn't meet prime lending standards the same credit assessor is going to look at the deal through there alternative document or specialist lending frameworks. If you're broker makes sense to use a non-bank... no channel conflict, more lending appetite, quicker turn around times etc.