N1 Holdings Limited (ASX:N1H) delivered record revenue, improved profits, and expanded funding for the financial year ending 30 June 2025. The ASX-listed group executes a disciplined approach to growth and risk management. The leadership emphasised disciplined risk management and avoided construction lending, ensuring portfolio health and return visibility for 2026.
Record Financial Performance
N1 Holdings generated revenue of $19.69 million, rising 6.8 percent over the previous year. Commercial lending contributed 96.6 percent of total revenue, growing 9.8 percent over the prior period. Net profit after tax stands at $855,826. Profit before tax increased 24 percent year-over-year. EBITDA reached $1,188,463, holding steady compared to FY24. The company’s net tangible assets per share rose from 1.14 cents to 1.75 cents, reflecting real value creation for shareholders.
Figure 1: N1 Holdings FY2025 financial performance
Funding Capacity and Loan Book Expansion
At financial year end, N1 managed over $254 million in committed lending capacity. This includes $34 million from private debt, $196 million under debt facilities, and $24 million of mortgage fund under management. Loan receivables reached record levels for FY25, growing 17 percent year-over-year.
Figure 2: N1 Holdings lending capacity and loan book expansion
Technology-Driven Productivity
N1 Holdings deployed custom AI tools across credit memo drafting, policy checks, and valuation, reducing analyst workload and improving turnaround times. Internal systems automate credit work, while broker-facing tools deliver instant policy guidance. The reconstructed CRM system connects funding utilisation, loan dashboards, and real-time risk monitoring. Proprietary data tracks $950 million in historical transactions, sharpening risk management.
Figure 3: N1 Holdings technology-driven productivity improvements
Cost Control and Efficient Scaling
Operating expenses remained consistent across three years, with revenue and profit improving. This efficiency enhanced the cost-to-income ratio. New funding arrangements cut the weighted average cost of funds and are set to bolster net interest margin in the next year.
Robust Risk Management
The business maintained strong equity and controlled loan-to-value ratios, keeping the loan book healthy. Strategic avoidance of construction and development lending reduced risk. Prudent capital deployment and strict credit policy focus support stability against market uncertainties and competition from lower interest rates.
Material Business Risks and Responses
N1 Holdings highlights risk factors including compliance, credit, liquidity, interest rate exposure, market conditions, financial crime, cybersecurity, and climate impacts. Compliance is managed through ongoing reviews and education. Credit risks see disciplined evaluation of borrowers and collateral. The company diversifies funding sources. Interest rate risk management involves seeking cost-stable sources.
Market risk is monitored with regular reviews of exposures and pricing. Technology aids crime and fraud detection. Cybersecurity protocols follow recommendations from Amazon Web Services and Google. Climate risks get regular scrutiny regarding lending exposures.
Directors and Leadership Team
Ren Hor Wong chairs the board and serves as CEO. Jia Penny He acts as Executive Director and CFO. Independent Non-Executive Directors are Frank Ganis, with forty years in banking, and David Holmes, a veteran of global credit policy management. Anand Sundaraj, principal at a Sydney law firm, is the Company Secretary.
Shareholders and Equity Structure
At 26 August 2025, N1 Holdings lists 88,055,573 fully paid ordinary shares. REN H WONG PTY LTD holds 56.78 percent of issued capital. No shares were issued under option during the year. The net asset position increased to $2,242,261.
Remuneration and Incentive Strategy
Policy aligns executive and shareholder objectives, with fixed remuneration and long-term incentives based on business outcomes. CEO fixed annual remuneration reaches $500,000 plus allowances. CFO fixed remuneration is $195,000 annually. Non-executive director fees range from $20,000 to $72,320.
In FY25, executive directors received $120,000 in performance-based bonuses. No options remain outstanding. Directors have significant shareholdings in the company.
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Strategic Outlook
Management focuses on deploying expanded capacity without reducing credit standards and driving funding costs lower. The group advances technology for productivity gains and expects earnings growth as the commercial loan book expands. “I believe that we are standing right at the tipping point.
The infrastructure we’ve built over years covering capital raising, distribution, and technology, is now fully operational and positioned to accelerate our growth. We have been talking about the N1 infrastructure for years, and it’s now achieving a meaningful scaling effect,” stated Chairman and CEO Ren Hor Wong.
Dividend and Investor Returns
N1 Holdings declared dividends worth $290,583 for FY25. The company aims to balance growth, risk, and investor returns. Cash and cash equivalents ended the year at $11.32 million. The basic earnings per share stand at 0.97 cents.
Future Directions
No significant post-year-end developments affected operations or the financial outlook, aside from the declared dividend. The board highlights its confidence in future profitability and the company’s ability to meet obligations. The annual report states, “There are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable,” signed by Ren Hor Wong on behalf of the directors.
