Judo Capital (JDO) AGM 2024 summary

Opening remarks and agenda

• Acknowledged directors, executive team, auditor, and employees present at the AGM.

• Reflected on the challenging economic environment and its impact on small businesses and consumers.

• Outlined the meeting's agenda, including financial reports, board elections, remuneration, and incentive plans.

Financial performance review

• Achieved strong financial and operational results for FY 2024, meeting or exceeding all guidance metrics.

• Delivered 20% lending growth and AUD 110 million profit before tax on an underlying basis.

• Maintained high capital levels (CET1 at 14.7%) and stable credit quality, with impaired loans at 2.34%.

• Successfully transitioned funding mix, repaying AUD 2.8 billion to the RBA, and expanded term deposit base to over 50,000 customers.

• Q1 FY 2025 trading update showed continued lending momentum, with a loan book of AUD 11.3 billion and strong pipeline.

Board and executive committee updates

• Smooth CEO transition from Joseph Healy to Chris Bayliss, with new senior executives appointed.

• John Fraser retired as director; board advanced in appointing a new non-executive director with deep banking experience.

• Jennifer Douglas and David Hornery stood for re-election, both receiving strong board support.