25 Nov

BNK FY22 Earnings Update

BNK Banking Corporation Limited L e v e l 1 4, 191 St Georges Terrace Perth WA 6000 bnk.com.au | info@bnk.com.au | 1300 BNK BANK | ABN 63 087 651 849 | AFSL/Australian Credit License 246884 | BSB 806043 ASX Release , 25 November 2021 BNK INCREASES FY22 EARNINGS GUIDANCE ? Strong start to FY22 financial year ? Banking division continuing positive momentum ? Aggregation (Finsure) delivered record settlements in 1QF Y 22 – expects $ 34 billion settlements for full year ; up from $24 billion per previous guidance ? Group Underlying NPAT guidance increased - expected to be 15 - 20 % above FY21 BNK Banking Corporation Limited (ASX:BBC) (“BNK” or the “Group”) will today hold its Annual General M e eting at which the Company provide s an increase in its earnings guidance for the financial year ended 30 June 2022 ( “ FY22 ” ). “ I am pleased to report the Company has delivered a strong start to the new financial year, ” said Chairman Don Koch . “In our Banking division, for the September quarter, total lending settlements grew to $222 million; an increase of 141% year on year and a 5% increase compared to the previous corresponding quarter. “We have commenced the origination of specialist loans though our alliance with Goldman Sachs, achieving $160 m illion in applications to 30 September 2021 . “ O ur Aggregation division ( Finsure ) has started the year very strongly with record settlements of $8.5 billion in the September quarter; an increase of 85.7% year on year and up 20.3% compared to the previous corresponding quarter. “ Finsure also reported record e - lodgements of over $18 bill ion for the September quarter which highlights the strong pipeline for continued settlement growth. “ As a result of this strong start to the year and outlook , Finsure now expects total settlements of approximately $ 34 billion for the full year , up 42 % from our previous guidance of $24 billion provided at the FY21 result o n 27 August 2021 . “ Primarily as a result of this increase in expected Finsure settlements for the year, BNK expects that underlying net profit for FY22 will be higher than previously antici pated. “ BNK’s previous guidance was for a modest increase in underlying NPAT in FY22 . The Company now expects Underlying NPAT to be 15 - 20 % above the prior year , subject to financial markets rem a ining stable, ” Mr Koch said. This announcement has been authorised for release by the Board of Directors. ENDS BNK Banking Corporation Limited L e v e l 1 4, 191 St Georges Terrace Perth WA 6000 bnk.com.au | info@bnk.com.au | 1300 BNK BANK | ABN 63 087 651 849 | AFSL/Australian Credit License 246884 | BSB 806043 Investor Enquiries Martin Cole Investor Relations Email: martin.cole@capitalmarketcommunications.com.au Telephone: +61 403 332 977 Media Enquiries David Maher Head of Marketing Email: david.maher@finsure.com.au Telephone: +61 407 382 976 Who is BNK Banking Corporation Limited? BNK Banking Corporation Limited (BNK) is a diversified financial services company with two key operating divisions in banking and mortgage broking aggregation: Banking The company has operated as an APRA - regulated authorised deposit - taking institution (ADI) for over 38 years. O ur customers benefit from the Australian government deposit guarantee scheme for deposits up to $250,000. The bank provides simple and easy to understand products across savings, payment and mortgages under the Goldfields Money and Better Choice Home Loans brands. Mortgage Agg regation The Aggregation division, operating as Finsure, provides one of the largest distribution networks in the country as well as valuable market insights that assist BNK with product development. As at 30 September 202 1 t he business services over 2,0 50 mortgage brokers and manages a loan book in excess of $ 60 bn. This unique combination allows BNK to develop competitive products that meet its changing customer needs, leveraging its low - cost, technology - driven model. BNK is focused on becoming a challenge r bank of scale through building its product portfolio, growing its diversified distribution network and pursuing API - enabled partnering opportunities. The Company is listed on the Australian Securities Exchange (ASX:BBC). You can read more about us at www.bnk.com.au and www.finsure.com.au .
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