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Wisr grows personal loan originations by 42% in March quarter

Wisr's personal loan lending portfolio and credit quality position is strengthening.

concept of growth with stairs going upwards
Since restructuring, origination loan growth has increased at an average of 66% each quarter

Wisr Limited(ASX:WZR), formerly known as DirectMoney, grew its origination of personal loans by 42% in the March quarter compared with the previous December quarter.

The 42% quarter-on-quarter growth follows 79% growth in the December quarter and 20% growth in the September quarter.

Notably, since the business restructure in 2016, the gross annualised loss rate for the loan book through to the end of the March quarter has been below 2%.

Restructure has provided a new foundation for the company to grow from

Wisr’s CEO Anthony Nantes said: “These increases over the most recent quarter, reflects the new brand positioning, updated strategy and ongoing improvements to Wisr’s loan assessment, underwriting and technology platform.

“We have spent the past 12 months refocusing, rebranding and restructuring the business for long-term growth.

“The rapid increase in our loan origination volumes is a testament to the work done by the team to re-launch the company.

“Combined with the significant increase in the effectiveness of our algorithms to auto-process more enquiries, and the impact of our re-brand, the company now has an amazing foundation from which to grow over the coming years.”

Quick facts: Wisr Ltd

Price: 0.28 AUD

ASX:WZR
Market: ASX
Market Cap: $231.43 m
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