ASX-listed consumer lender Wisr, in its market update for the first quarter of its FY25, has emphasised a focus on growth. In the September 2024 quarter Wisr's loan originations totalled $77.3 million, up from $50.1m in the comparable quarter of FY24, and a 40 per cent increase over the prior quarter.
Wisr's loan book saw a 2 per cent decline compared to the previous quarter. In its update, the company noted that its loan book totalled $753 million, reflecting a 15 per cent decrease from $887m in Q1 FY24.
This was attributable to a deliberately moderated growth strategy implemented in FY24, wisr noted in its market update.
Additional metrics cited by Wisr: 90+ day arrears were reduced to 1.40 per cent (compared to 1.58 per cent in Q4 FY24), while net losses were down to 2.06 per cent (previous quarter: 2.75 per cent).
Meanwhile Wisr continued its portfolio NIM expansion, up by 29 bps in the quarter to 5.64 per cent over Q1 FY24, achieved through what Wisr stated were "ongoing front book repricing initiatives and improvements to funding margins".
Two warehouse facilities were in place to support Wisr's originations with a total commitment value of $650m and an undrawn capacity of $194m. Both warehouse facilities were renewed in the quarter with improved pricing. From the $50m corporate facility announced in May 2024, a further $15m remains available to fund the Company’s ongoing growth plans.