Pepper Money H1 2026 slides: record mortgage growth, RAMS integration

Pepper Money Limited reported record half-year 2026 results on August 20, 2026, driven by a surge in mortgage originations and the successful integration of the RAMS servicing system. Despite a 20% decline in overall mortgage market inquiries, the company experienced a 42% year-over-year increase in its own inquiries. Total mortgage originations reached a record $4.5 billion, a 63% increase year-over-year.

Total originations for the period amounted to $6.3 billion, a 40% rise compared to the previous period. Pro-forma net profit after tax hit $53.9 million, a 15% increase year-over-year. The company's total assets under management expanded to a record $24.0 billion as of June 30, 2026, marking a 20% growth from the prior year. This included mortgage assets of $12.5 billion (up 32%), asset finance assets of $6.0 billion (down 4%), and servicing assets of $5.5 billion (up 26%).

Total net interest margin reached 2.10%, up 12 basis points from the previous period, reflecting improved funding margins and strategic pricing decisions. The interim dividend was declared at 7.2 cents per share, a 12% increase from the previous year and a 60% payout ratio, resulting in an annualized yield of 9.5%, up from 7.1% in the prior period.