Latitude Financial Services Group (LFS) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land owners and confirmation of quorum.

• Voting procedures and question submission guidelines were outlined, with voting open on all items of business.

• Directors, company secretary, auditor, and interim CFO were introduced.

Financial performance review

• Cash net profit after tax rose 139% to AUD 65.9 million in 2024.

• Net interest margins expanded due to prior pricing actions and lower funding costs.

• Record-high new loan origination volumes of AUD 1.5 billion achieved in 2024.

• Tangible equity ratio improved to 7.1%, above the board-mandated range.

Board and executive committee updates

• Chairman and Director Mark Joiner agreed to remain until completion of strategic initiatives.

• Ilfryn Carstairs appointed as Non-Executive Director, replacing Aneek Mamik.

• New executive appointments included a General Manager of Internal Audit, EGM of Money Division, EGM of Enterprise Services, and incoming CFO Guillaume Leger.