Homeloans to rebrand as RESIMAC
Australian non-bank lender Homeloans Limited and subsidiary RESIMAC are to merge under a single brand as the company continues to build market share in New Zealand.
Wednesday, October 24th 2018, 4:03PM
The group will be unified as Resimac Group Limited the company announced today. The rebrand requires shareholder approval at the company’s AGM on 26 November.
From December 3 customers will be migrated to the new Resimac brand, the company said. The move will not affect customers.
It comes as RESIMAC goes from strength to strength in the New Zealand market, led by NZ general manager Adrienne Church and buoyed by tightening lending from the major banks. Advisers say non-banks are building market share as customers are rejected by tight servicing tests from the big banks.
Church told TMM Online the rebrand would help the company "leverage off brand awareness", with the Resimac name being used in Australia. "It will have a halo effect for the business," she added.
RESIMAC’s success in New Zealand has seen the company build its share of the non-bank space to 42%, up from 35% the year before. The company attributes the growth to a busier adviser channel.
Homeloans Joint joint CEO Mary Ploughman said the group rebrand reflected the company’s “history as a challenger”. She added: “It really is taking the best of both worlds and we are confident it will help take our business to the next level.”
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