News

The 2024 Annual General Meeting (AGM or meeting) of Credit Corp Group Limited (Credit Corp or the Company) will be held on Tuesday 29 October 2024 at Clifton’s, Level 3, 10 Spring Street, Sydney NSW. The meeting will commence at 10.00am (Sydney time) with registration commencing at 9.00am (Sydney time).

The Credit Corp AGM is an important forum for the Company, and we welcome shareholder participation. Shareholders (or their proxies and corporate representatives) can participate in the AGM in person or watch the live AGM webcast. This includes viewing proceedings, asking questions and voting.

To participate in the AGM, please follow this link and instructions thereafter.

The Board of Credit Corp Group Limited (Credit Corp) is pleased to announce the appointment of Ms Sarah Brennan as a Non-Executive Director. Sarah joins the Credit Corp Board after a successful executive career in financial services and substantial Board experience in both private and public companies. 

Mr Eric Dodd, Credit Corp Chair, noted that Sarah has served on the Boards of several ASX-listed entities following a successful Executive career including senior roles at Deutsche Bank, MLC and Citibank. Sarah also co-founded a successful strategic financial services consultancy.

“The breadth of Sarah’s Board and Executive experience in financial services, including her entrepreneurship in having developed and successfully exited her own consultancy, will be of great benefit to Credit Corp as it continues to grow and diversify,” he said.

Read the full media release

Credit Corp Group Limited reports the following highlights for the 2024 fiscal year:

• 18% growth in lending segment net profit after tax (NPAT)
• 24% growth in the consumer loan book to a record gross closing balance of $445 million
• Improved US operational performance over the final quarter of FY2024
• Strong FY2025 US investment pipeline secured

Underlying NPAT¹ fell by 11 per cent over the prior year to $81.2 million. While lending segment earnings grew strongly, the impact was offset by continued run-off in the core AU/NZ debt buying business and degraded US collection conditions.

The outlook for the year ahead is for a return to growth. A record starting consumer lending loan book, US operational improvement and a stabilised AU/NZ debt buying business will produce FY2025 NPAT of $90-100 million. At the midpoint of the range this is an increase of 17 per cent relative to FY2024.

¹ Underlying NPAT after adding back $45.6 million (after tax) for the US purchased debt ledger (PDL) impairment reported in H1 FY2024 and subtracting $15.1 million (after tax) for the change in estimated PDL collection life from six to eight years to the statutory NPAT of $50.7 million.

Read the full Media Release | View the Video presentation | View the full presentation | View the Annual Report