These ASX-listed lenders are benefiting from rising lending volumes
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The last six months have been solid for ASX-listed lenders, seeing an average gain of 37 per cent.
Last week the Australian Bureau of Statistics (ABS) showed lending volumes were up substantially. The most recent statistics in November 2020, when the RBA made its latest cut showed:
Construction loans for businesses however nearly halved falling 49.6 per cent to $1.02 billion.
The ABS credited the rise not only to low interest rates but other government schemes including stamp duty concessions and HomeBuilder.
Home loan commitments, for existing dwellings, was singled out as reaching a record high and spiralling 23.7 per cent in just 12 months.
While business construction loans fell, construction loans for residential dwellings were a different story, gaining 75 per cent since June.
Out of 10 ASX lenders stocks, eight are up in six months and have all reported higher trading volumes in recent months.
|RMC||Resimac Grp Ltd||2.13||11||111||$872.6M|
|MOC||Mortgage Choice Ltd||1.44||14||94||$176.9M|
|AFG||Aust Finance Grp||2.65||8||65||$708.5M|
|YBR||Yellow Brick Road||0.09||20||41||$29.2M|
|PLT||Plenti Group Limited||1.18||11||-29||$198.5M|
On a six-month basis, home loan lenders have done better than personal lenders.
The best performing personal lender is Money3 (ASX:MNY) which is up 64 per cent.
Curiously the ASX’s newest lender, fintech personal lender Plenti Group (ASX:PLT), is one of the worst-performing stocks, losing nearly 30 per cent since listing. And Plento is Wisr (ASX:WZR) which is down 36 per cent.
On the other hand, MoneyMe (ASX:MME) is sitting on a 28 per cent gain in six months.