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The non-bank lender has praised the broker channel as a “key part” of its loan originations rising 77 per cent QoQ.
Personal lender Wisr has revealed that it has returned to loan book growth, seen an increase in portfolio margin, and reduced losses in the quarter ending 31 December 2024 (2Q25).
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The ASX-listed non-bank lender posted a 77 per cent jump in loan originations year on year, rising from $52.9 million in the December 2023 quarter to $93.5 million in the December 2024 quarter, despite the December quarter typically being “a seasonally slower quarter”.
Originations were also up 21 per cent on the previous quarter.
The company also returned to loan book growth, with its loan book rising to $757 million, up from $753 million three months before, and marking the first quarter of loan book growth after “a period of moderated loan volume settings”.
Healthy growth in personal loan originations spearheaded its results, with a 32 per cent year-on-year jump (to $54.4 million, from $41.1 million).
Net losses narrowed 34 bps to 1.72 per cent from 2.06 per cent in the prior quarter.
Wisr flagged secured vehicle loans as a key growth driver, with originations surging to $39.1 million, up from $11.8 million a year before.
Commenting on the results, Wisr’s head of broker Nicole Evans said: “We have seen a significant increase in secured vehicle loan growth with a 230 per cent increase on 2Q24.
“These strong results stem from a focus on providing an inclusive product offering, which includes features like increasing the loan-to-value ratio, extending the maximum loan term and reducing establishment fees as well as providing competitive rates across the board.”
Evans said that the jump in secured vehicle loans was particularly pleasing.
“We’ve been working hard to grow this product and this type of loan also attracts prime lending candidates, helping to reduce losses for the second consecutive quarter,” Evans said.
Wisr praises broker channel
Speaking to The Adviser, Evans lauded the broker network as a core channel for the business and said the company had been working to update its offering in response to broker feedback.
“Our 77 per cent growth in loan originations is a great result and the broker channel has been a key part of this success as we continue building strong relationships with our valued aggregator partners and key brokerages,” she told The Adviser.
“As a team, we consistently collect feedback from our broker network to understand what is important to brokers and their clients. This ensures that the changes we make to our product and processes are aligned with both audiences’ needs.
“We recognise that the landscape of the broker channel is ever evolving so it’s vital we regularly review our product and pricing so Wisr can continue to be one of the most competitive in the market for secured and personal loans,” she said, adding the lender had also been working on improving its broker portal, application process, and lender technology.
Borrower trends
Commenting on market insights, Evans said consumers’ preferences for lending products were shifting.
“Across Wisr’s loan book, the top three loan purposes are vehicles, debt consolidation and home improvements. These loan purposes have historically been popular but we’re seeing even more Australians come to us for our debt consolidation offering both directly and via brokers,” she said.
Evans said that as well as offering loans, Wisr had provided features aimed at improving customers’ financial health including free credit score checks.
“Cost of living pressures, price sensitivity and speed of assessment are recurring themes in broker feedback and also key factors when it comes to deciding which lender is the best fit for a client. In the current lending environment, we pride ourselves on working with brokers to provide extremely competitive rates and products to consumers. We’re incredibly cognisant of the challenges many Australians are currently facing and the impact this has on brokers – and we want to ensure our brokers know that we’re here to support them, their businesses and their clients,” Evans said.
Andrew Goodwin, Wisr’s CEO, said the lender would continue to focus on “accelerating loan origination growth and building [its] loan book at attractive loan unit economics while prioritising profitability and maintaining a strong balance sheet.”
[Related: Wisr records rise in loan originations]
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