Australian Finance Group reported a rise of 42 per cent in net profit to $18.3 million in the year to June 2008, up from $12.8 million in 2007. The largest aggregator, or mortgage broker, reported a return on equity of 49 per cent.AFG paid a dividend of $15.9 million to shareholders up from $12.0 million the year before.Directors described the second half of the year as tougher, as origination volumes fell by roughly a third, leading to a reduction in staff and the withdrawal from some niche businesses.AFG suspended originations under its small mortgage securitisation program that had $66 million in loans under management at June 2008.  From the end of October AFG shifted wholesale funding for this program to Commonwealth Bank with a limit of $75 million, replacing Macquarie Bank (a shareholder in AFG).The firm has made loans of $6.5 million to subsidiaries, of which $3 million is impaired, primarily to its financial planning subsidiary.Tony Gill, formerly head of the banking business at Macquarie group, joined the board of AFG as chair in August. John Atkins, chair of ANZ's advisory board in Western Australia, joined the board in December 2007.