Suncorp Group Ltd said on Friday its normalized net profit after tax rose 14.7% to A$36.1 million in the fiscal year ended June 30, 2026, as the Australian financial services firm advanced its strategic reset and dividend program. Shares in the company gained 7.84% to close at A$1.72, extending gains from the prior session.
The group’s total loan receivables across Australia and New Zealand stood at A$966 million at period end, with Australian operations accounting for more than A$940 million. Commercial loan receivables exceeded A$109 million, and Suncorp reiterated its target to surpass A$1 billion in total receivables by December 2026. The New Zealand loan book contracted to about A$33 million following the disposal of a post-write-off portfolio for NZD 9.4 million, with A$8 million of the proceeds received in cash during FY26.
Interest income from Australian operations reached A$180 million, while origination volume totaled A$470 million. Money3 originations averaged more than A$30 million per month, and the Bennji commercial lending platform wrote around A$10 million monthly. Net tangible assets were reported at A$1.66 per share, with unrestricted cash of about A$70 million and funding capacity exceeding A$400 million.
Bad debts ratios remained within guidance: the group’s ratio was 3.6%, impacted by the New Zealand portfolio sale, while the Australian ratio was 4.4%, at the upper end of the 3.5%–4.5% target band. The resilient loan book rose to 81% of the total portfolio, up from 77%, with Australian leverage increasing to 74% from 71%.
Suncorp declared total dividends of A$0.195 per share for FY26, comprising three special dividends of A$0.075 tied to the New Zealand exit and two ordinary dividends of A$0.06 each. The next dividend, A$0.085, is scheduled for October. CEO Scott noted FY26 was a year of resetting the base, adding that June was one of the group’s strongest months for settlements. The company expects double-digit revenue growth in FY27 and plans to invest A$3–5 million in technology, including a new proprietary origination platform due in FY27 and an underwriting platform for Money3 slated for FY28 development.
The outlook reflects Suncorp’s focus on scaling its Australian lending operations while exiting New Zealand, with the final special dividends contingent on the completion of the New Zealand rundown.
