hummgroup reports $957.7M volume in Q1 FY27

Financial services firm hummgroup (ASX:HUM) reported a total quarter volume of $957.7 million for the period ended Sept. 30, up 13.7% on the prior corresponding period.

Commercial originations expanded 12.6% to $381.1 million, while consumer volume grew 14.4% to $576.6 million over the three-month timeframe.

Closing assets under management fell 1.5% to $5.3 billion as portfolio runoff and an $87.2 million adverse foreign exchange impact offset higher origination volumes.

Commenting on the performance, the Managing Director and CEO, Angelo Demasi, said he was pleased that humm’s commercial and consumer volumes had improved, despite ongoing headwinds in the sector and cost-of-living pressures.

Commercial closing assets under management increased 2.3% to $3.4 billion, whereas consumer assets dropped 7.7% to $1.9 billion following a planned transition in Australia.

The group maintained credit performance across its portfolio, recording a net credit loss and an average net receivables ratio of 1.9%.

Following the announcement, the hummgroup share price was unchanged at $0.45.

The lender previously simplified operations and controlled expenses to lower its underlying cost-to-income ratio from 57% to 53.5% over the past year.