Street Calls of the Week
LONDON - Together Financial Services Limited announced its loan book reached a new high of £7.9 billion for the year ended June 30, 2025, representing a 7.2% increase from the previous year, according to a press release issued Thursday.
The UK-based financial services provider reported underlying profit before tax of £216.1 million, up 7.0% from £200.9 million in 2024. Interest receivable and similar income rose 11.8% to £868.1 million, while the company maintained a net interest margin of 5.5%.
Average monthly lending increased 5.6% to £263.6 million with weighted average origination loan-to-value ratios (LTVs) of 60.0%. The company’s weighted average indexed LTV remained at 55.8%.
Together noted that arrears increased to 5.5% from 4.7% in the previous year but stabilized in the second half due to "proactive collection strategies and Bank of England rate reductions."
The company’s annualized cost of risk rose to 0.99% from 0.79% in 2024, while its underlying cost-to-income ratio increased slightly to 31.2% from 30.0%.
During the fiscal year, Together raised or refinanced over £5 billion in funding facilities and progressed its lending system and data platform transformation program into the testing phase.
The company also underwent leadership changes, with Richard Rowntree joining as Group Chief Executive Officer in November 2024 and several other executive appointments throughout the year.
In his statement, Rowntree described the economic outlook as "mixed," citing expectations of further interest rate cuts offset by global economic uncertainty, continued trade disruption, and a weaker jobs market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.