The increasingly diversified non-ADI lender, Liberty Financial has reported a pre-tax consolidated profit of A$76.3 million, a four per cent rise on last year's result ($73.7 million). This follows an increase in new loans ($3.7 billion in 2017, compared to $2.5 billion in 2016) and a lift in total assets ($7.5 billion vs $5.4 billion). "Over the year we achieved a profit before tax of $76.3 million whilst also increasing new loans by nearly 50 per cent and our loan portfolio by nearly 40 per cent," James Boyle, Liberty chief executive officer, said. Boyle said Liberty had made other operational changes to support the growth of the business, including launching a new broker portal and increased investment in staff training. In August 2017 Liberty acquired National Mortgage Brokers, a broker group of nearly 400 which was responsible for running a $14 billion book, from Aussie Home Loans. Liberty said the business complements the existing Liberty Network Services' platform of 120 advisers, considerably expanding distribution capabilities and giving more consumers access to Liberty. Peter Riedel, Liberty chief financial officer, said the modest growth in net profit before tax of four per cent reflected significant investment in people and Liberty's technology platforms, combined with a prudent increase in provisions for possible future loan impairment. Riedel said this has been a very strong year in new loans growth, particularly for its Australian residential lending business. This has shown compound annual growth rate (CAGR) of 83 per cent between 2015 and 2017 financial years while the portfolio has shown a CAGR 49 per cent growing from $3.1 billion to just shy of $7 billion. Net finance income in the same period rose 14 per cent from $122 million to $158 million, while the cost to income ratio moved from 38 per cent up to 44 per cent. Riedel said this was the result of the company moving to lower risk Australian home loans, as well as investing in IT systems capability in particular. Riedel said debt capital markets remain supportive of Liberty, which continues to have an unblemished track record after raising more than $20 billion in domestic and international capital markets since its inception in 1997. "Liberty successfully priced seven asset backed and senior unsecured note issues during FY17. The aggregate value of $3.1 billion issued reflects investors' confidence in Liberty, the performance of its securitisation program and its investment grade rating," Riedel said. There are possibly two more issues in the pipeline for Liberty before the calendar year is over - another RMBS and a term note. Earnings have been reinvested back into the company consistently giving a risk adjusted capital ratio is 15.6 per cent as calculated by S&P Global, which underpins its investment grade rating of BBB minus. Liberty Financial: 2016-17 FY highlights:•    before tax profit of $76.3 million (up four per cent);•    new loan originations of $3.7 billion (a 48 per cent increase from $2.5 billion in 2016);•    total assets of $7.5 billion (a 40 per cent increase from $5.4 billion in 2016);•    acquired National Mortgage Brokers (nMB) with broker headcount of