News

The Board of Credit Corp Group Limited (Credit Corp) announces that Ms Leslie Martin will retire as a Non-Executive Director at the conclusion of Credit Corp’s upcoming Annual General Meeting on 24th October 2023.

Mr Eric Dodd, Credit Corp Chair, noted that Leslie had served on the Board of Credit Corp for over nine years during which time the organically developed consumer lending and US debt buying activities had significantly grown to now comprise the majority of Credit Corp’s earnings.

“Leslie’s international and domestic banking experience and strategic leadership have been invaluable to the development of Credit Corp. On behalf of the Board I thank Leslie for her significant contribution and wish her well in her retirement,” he said.

Credit Corp Group Limited reports the following highlights for the 2023 fiscal year:

• 70% growth in lending segment net profit after tax (NPAT)

• 43% growth in the consumer loan book to a record gross closing balance of $358 million

• Recovery in US operational performance over the second half

• Solid FY2024 US investment pipeline secured in improved pricing conditions

NPAT fell by 5 per cent over the prior year to $91.3 million. While lending segment earnings grew strongly, the impact was offset by continued run-off in the core AU/NZ debt buying business and costs arising from increased US resourcing.

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

Credit Corp Group Limited CEO, Thomas Beregi, provided a market update to investors on 4 May, highlighting Q3 2023 performance.

View the Investor Presentation: Market Update

The Board of Credit Corp Group Limited (Credit Corp) is pleased to announce the appointment of Mr. Brad Cooper as a Non-Executive Director. Brad joins the Credit Corp Board after a long and successful executive career in financial services.

Mr. Eric Dodd, Credit Corp Chairman, noted that Brad had served as CEO of BT Financial Group, CEO of Westpac New Zealand Limited and as Managing Director of the then GE Consumer Finance businesses in both Australia and the UK.

“Brad’s extensive consumer finance and retail financial services experience at CEO level will be a tremendous asset for Credit Corp as we continue to expand and diversify,” he said.

The Board of Credit Corp also announces that long-standing Non-Executive Director Mr. Richard Thomas will retire from the Board effective 19 May 2023. Richard served on the Board for more than 16 years, including as Acting Chairman during 2008 and for most of his tenure was a member of the Audit and Risk Committee.

Richard’s experience leading large consumer finance businesses in Australia, New Zealand and the US has been instrumental in the development of Credit Corp.

Read the full media release.