Harmoney’s Australian loan book eclipses NZ

Harmoney quit the NZX in October. (Image: NZX)

Tue, 31 Jan 2023

Harmoney’s Australian loan book has eclipsed its New Zealand business for the first time as new lending stalled on this side of the Tasman. The personal lender said its loan book grew 21% to A$701 million in the six months ended Dec 31, of which A$351m was in Australia and NZ$375m was in NZ. New lending in Australia grew 57% to A$141m from a year earlier, while NZ lending slipped 1% to NZ$110m. The lender’s NZ lending to existing customers grew 16% to NZ$66m, but that wasn’t enough to offset the 19% decline in new lending...

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