- Net profit after tax of $57.4 million (2021: $57.2 million).
- Loans settled over the year increased by 24% to $5.5 billion (2021: $4.4 billion).
- Loan portfolio growth of 30% to $12.4 billion at 31 December 2022 (2021: $9.5 billion).
- Loans >90 days in arrears amounted to 0.06% of the loan portfolio at 31 December 2022 (2021: 0.07%), with loans granted temporary hardship relief an incremental 0.04% (2021: 0.03%).
ColCap Financial Limited (“ColCap”) released its results for the year ended 31 December 2022 today. ColCap achieved loan portfolio growth of 30% to $12.4 billion and delivered its highest ever net profit after tax of $57.4 million despite challenging market conditions with eight consecutive months of increases in the Cash Rate combined with cost of funding margin increases.
ColCap continued to be an active issuer of Residential Mortgage-Backed Securities (“RMBS”) in 2022 despite volatile market conditions. Including its latest RMBS for $1.0 billion which settled on 23 February, ColCap has now issued a total of $17.7 billion in RMBS comprised primarily of ColCap-originated prime residential mortgage loans.
ColCap’s Co-Founder and Chief Executive Officer Andrew Chepul said “We are proud of our 2022 result in the context of challenging market conditions, and of our strong track record of delivering innovative competitively priced mortgage loan products to our customers. Our performance and scale offer us considerable flexibility and we are excited about our continued growth prospects, including the United Kingdom where we recently commenced lending.”
About ColCap
ColCap is a privately owned leading non-bank lender specialising in residential mortgage loans. ColCap was founded in 2006 and currently has a loan portfolio in excess of $12.4 billion.
ColCap lends primarily through:
- the Wholesale lending brand Origin Mortgage Management Services, which services Mortgage Managers that offer white labelled mortgage loans;
- the award-winning Retail lending brand Homestar Finance, which offers mortgage loans direct to borrowers; and
- the Broker lending brand Granite Home Loans, which offers selected loan products to borrowers utilising aggregators and mortgage brokers.
ColCap operates primarily in Australia but has also recently commenced lending in the United Kingdom under the Molo brand.
Columbus Capital rebranded as ColCap with effect from September 2021. For further information about ColCap please visit www.colcap.com.au.
For further information
Jean du Plessis (Chief Financial Officer)
Tel: +61 2 9273 8123
Email: jean.duplessis@colcap.com.au
