Humm Group, a commercial and consumer finance provider, has reported a 14 per cent decrease in loan originations for the latest quarter. Humm offers a range of financial products, including buy now, pay later services and commercial finance solutions. The company announced that new loan originations totalled $845 million, a 14 per cent drop compared to the same period last year.
The September quarter update revealed that consumer loan volumes experienced a 15 per cent decline compared to the prior corresponding period. Humm noted that the drop was partly due to increased regulation affecting buy now, pay later products in Australia. The company anticipates that consumer loan volumes will remain below the levels of the last financial year for the rest of the 2026 financial year.
Commercial loan volumes also saw a decrease of 13 per cent during the quarter, reflecting reduced demand for finance from small and medium-sized businesses. Humm stated that its commercial division saw a slight improvement in market share.
Despite the overall decline in loan originations, Humm reported some positive developments. Assets under management increased by 4.4 per cent to $5.3 billion during the quarter, and the group’s net interest margin remained steady at 5.4 per cent.
