Despite a challenging year as management executed the operational turnaround of our business, we have taken meaningful action to deliver customer benefits, efficiency gains and laid the foundations for sustainable, profitable growth in 2025 and beyond.
The consumer lending market is undergoing considerable change, marked by economic headwinds, digital innovation, regulatory evolution and a socially motivated drive towards financial inclusion. We are well placed to capitalise on these trends given limited competition.
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1.69m Customer numbers |
24m consumers Target addressable market in consumer lending |
We benefit from a differentiated approach to our target customers and have carefully developed propositions to respond to their needs. Assets to help us meet these needs include the Snoop money management app and lower funding costs driven by the business being primarily funded through retail deposits.
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94% of users would recommend Snoop |
92% funded by retail deposits |
We have strengthened our leadership team with a number of key hires. The resized Executive Committee has streamlined decision making and aligned leadership with organisational goals.
22
Senior Leadership Team hires in 2024
We will measure our success through a series of customer‑focused and financial measures. We project an increase in ROTE to low single digits in 2025, low double digits in 2026 and mid-teens in 2027.
‘mid-teens’
2027 ROTE target
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