The rebalancing act extends beyond volume. “Our focus is clear,” Lirantzis said. “We are strengthening home loans by improving the experience for customers and brokers, helping brokers match customers with lending products that suit their needs across all our asset classes, and using technology to lift service levels.
“The actions taken over the past year have strengthened the quality, resilience and scalability of the group.”
The Westpac run-off
Resimac’s asset finance division eased back on settlement volumes as it repositioned the book toward higher-return, better-quality lending.
Resimac first agreed to buy the Westpac book in October 2024 in a deal valued between $1.4 billion and $1.6 billion, before completing the acquisition and migrating roughly 100,000 customers across in March 2025.
The purchase, which more than doubled Resimac’s asset finance operations at the time, marked the non-bank lender’s push beyond its traditional reliance on residential mortgages and gave it a foothold in consumer auto finance and novated leasing – markets Westpac had been quietly running down since selling its dealer finance arm to Angle Finance back in 2021.