Judo Capital (JDO) investor relations material

Executive summary

• Profit before tax rose 53% year-over-year to $86.5m, with statutory NPAT up 46% to $59.9m, driven by strong net interest income and lower credit impairment charges.

• Gross loans and advances grew 15% year-over-year to $13.4bn, with deposits at $10.9bn, supporting nearly 5,000 business customers and above-system growth.

• Sector-leading NPS in lending (+52) and deposits (+65), with 171 bankers in 32 locations.

• Completed technology re-platforming, enabling scalable growth and productivity improvements.

Financial highlights

• Net interest margin (NIM) stable at 3.03%, with 2H26 guidance upgraded to ~3.15%.

• Cost-to-income (CTI) ratio at 48.5%, down 890bps year-on-year, with FY26 target below 50%.

• Return on equity (ROE) improved to 6.9%, up 140bps half-on-half; EPS up 46% year-on-year to 5.4 cents.

• CET1 ratio at 12.6%; total capital ratio at 16.9%; provision coverage at 1.43% of GLA.

• Net profit after tax up 32% half-on-half to $59.9m.

Outlook and guidance

• FY26 GLA guidance raised to $14.4bn–$14.7bn, with at-scale target of $15bn–$20bn.

• NIM expected at upper end of 3.00%–3.10% for FY26, with 2H26 NIM of ~3.15%.

• CTI ratio expected to improve further in 2H26, remaining below 50% for FY26.

• Cost of risk forecast at 60–65bps of average GLA.

• Full-year PBT guidance reaffirmed at $180m–$190m; ROE targeted in low-to-mid teens by FY27.