JDO Analysis: 1Q FY26 Update and FY25 AGM Addresses

Published 22 Oct 2025 • 3 min • jdo

Event: 1Q FY26 Update and FY25 AGM Addresses | Date: 2025-10-15 | Source: ASX Announcement

Robust 1Q FY26 Momentum with 16% Annualised GLA Growth

Judo Capital Holdings released its 1Q FY26 business update during the FY25 AGM on 15 October 2025, highlighting sustained lending momentum amid a challenging economic environment. Gross loans and advances (GLA) reached $12.9 billion, reflecting 16% annualised growth from FY25 end, driven by a $1.9 billion AAA-rated pipeline and strong broker partnerships. Deposits grew 6% quarter-on-quarter to $10.5 billion, supporting a funding mix of 68%, while front-book lending margins held at 4.4% and blended margins at 4.3%. Impaired assets improved to 2.37% from 2.43% at FY25 end, with the company reaffirming FY26 guidance for profit before tax of $180-190 million and net interest margin of 3.00-3.10% (1H ~3.00%, 2H ~3.10%). Warehouse lending expanded to $245 million in limits across four customers, with plans for monthly onboarding. Source: Judo Capital 1Q FY26 Business Update.