Pepper shakes $6bn
Pepper Group set a cracking pace in lending growth over the year to June 2017. Loans under management lifted 15 per cent to $5.98 billion. This is around 2.3 times system and one of the fastest growth rates for any mortgage funder.While it still has a slender share of Australia's mortgage market, the non-bank lender - headed for control by KKR interests - now outguns all bar one mutual bank for scale in loan funding and may soon surpass Citi for scale in this segment.Loan originations for Pepper in its core markets increased by 19 per cent to $1.8 billion. This is equal to 72 per cent of originations over the financier's full year to December 2016."Origination growth in the Australian residential mortgage and auto finance businesses remain at record levels, driven by diversified distribution channels," Pepper said in an investor presentation on Friday for its half year results to June 2017.It's a profit engine, with Pepper's profit before tax for the Australia and New Zealand division rising A$6.8 million, or around one quarter, to $31.7 million over the half.Pepper set out that "subject to market conditions, and exclusive of performance fees, Pepper is targeting an adjusted NPAT of at least $67.5 million for the year to December 2017."