PPM 3.86% $1.62 pepper money limited

The result o have been looking for, page-13

  1. 5,202 Posts.
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    Picked this up from an Investment group .............Serving those the big banks don’t.......
    The last stock we’ll discuss is a recent ASX member, having listed on the exchange in May 2021.
    The company is Pepper Money Ltd [ASXPM].
    Pepper Money is a non-bank lender, whose $500 million IPO was the largest in 2021.

    For context, NAB’s FY21 group NIM was 1.71%. Westpac Banking Corp’s [ASX:WBC] FY21 NIM was 2.04%.
    Despite the growth in loan originations and serving many customers the large banks wouldn’t, Pepper’s loan losses fell to 0.28% in 1H21 compared to 0.37% in the same period in 2020.
    Pepper ended 1H21 with $836.7 million in cash and cash equivalents.
    Pepper’s growth opportunity lies in the fact its market share of the $2.16 trillion Australian and New Zealand mortgage market is about 0.5%.
    And Pepper’s share of the $52 billion Australian motor vehicle and equipment finance market is 5.1%.
    While PPM is growing, there’s plenty of growth left.
    The key to its growth is Pepper continuing to capture market share.
    If Pepper Money has only ‘cornered’ 0.5% of a market worth more than $2 trillion, what will the company look like if it corners 5%, or even 10%?
    Something to keep in mind, however:
    Pepper’s float in 2021 welcomed yet another fintech to the ASX mix.
    The sector is also home to others like Prospa Group Ltd [ASXGL], Plenti Group Ltd [ASXLT], MoneyMe Ltd [ASX:MME], Harmoney Group [ASX:HMY], and Latitude Group Holdings Ltd [ASX:LFS].
    While Pepper continues to grow, the burgeoning competition is something to be aware of....please DYOR .Cheers V
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