Non-bank, non-ADI lender, Liberty Financial, has reported a 10 per cent increase in its consolidated pre-tax profit in 2018 of A$83.9 million, a step up from $76.3 million in 2017, some of which has been generated from picking up lending business from banks across the board in mortgages, personal loans, vehicles, life insurance.The result is in line with increased business being reported by a range of smaller ADIs and larger non-bank loan originators as the major banks feel the pinch from a combination of tighter lending requirements and customers deserting them in the light of banking royal commission revelations. The investment in ALI Group, as well as the acquisition and integration of MoneyPlace and National Mortgage Brokers (nMB), have both extended the reach of the Liberty Group, but also cut into profit margins, noted said James Boyle, chief executive officer, in a media conference explaining the result.Among the newly acquired businesses are the "direct-to-customer" personal loans operation of MoneyPlace, which offers loans of between $5,000 and $45,000, and nMB, which employs more than 400 mortgage brokers around Australia.Peter Riedel, Liberty's chief financial officer, said the 10 per cent profit growth reflected the measured growth of a business with a balanced portfolio of products and services."Total finance income grew by 46 per cent to $622 million - up from $426 million in 2017 - while total operating expenses increased by 28 per cent over the same period. The increase in finance income was driven both by an increase in finance assets as well as contribution from the acquired businesses," he said.Impairment charges for the year increased to $19.2 million (24 basis points of average finance assets) compared to $12.6 million (22 bps) in FY17, which the company said was due to growth in the portfolio of finance assets.Similarly, the increase in total assets to $10.2 billion (compared to $7.5 billion in 2017) reflected an expanded business in new residential, commercial and motor vehicle loans and a stable average life of loan.Net equity has increased to $622 million, which CFO Riedel said in line with the continued approach of recapitalising 100 per cent of its profits. The business achieved a ROE of 15 per cent and has a risk-adjusted capital ratio of 15.3 per cent which is supportive of its investment grade rating of BBB- (stable outlook).Liberty management were quick to point out that Liberty seems to be among the few non-banks with a strong and viable business model"The global capital markets continued to strongly support Liberty's funding program in 2018," Riedel said. Over the year, Liberty priced six asset-backed and senior unsecured note issues, raising $4.9 billion of total funding. This included an issue of $1.5 billion in April 2018, the largest public issue of non-conforming loans by a non-bank.