David Albest

Metro Finance, one of Australia’s leading independent non-bank lenders for asset finance, today announced it has successfully priced a $1.2 billion asset-backed securitisation (ABS) transaction, the largest single ABS issuance in the company’s history.

The transaction was upsized from an initial launch volume of $750 million on the back of strong investor demand, with the AAA-rated senior notes pricing at 96 basis points.

A total of 30 investors participated in the deal, spanning Australia, the UK, Japan, Europe, the USA, Asia ex-Japan and New Zealand, underscoring the continued breadth and depth of Metro’s global investor base.

The transaction marks Metro’s 15th term ABS deal since establishing its securitisation program in 2018, taking total lifetime term issuance past $9 billion. The transaction also surpasses Metro’s previous issuance record of $1 billion.

Commenting on the record transaction, Metro Finance CEO, David Albest, said the result reflected the strength and maturity of the business’ capital markets program.

“Pricing our largest ever ABS transaction, and upsizing it well beyond initial launch volume, is a clear vote of confidence from the market in Metro’s growth trajectory and the quality of our loan book,” David said.

“This result gives us the funding capacity to support Metro’s ongoing origination growth across our commercial, consumer and novated products. It also strengthens our recent expansion into dealer finance, broadening our origination base and creating a more diversified business across multiple distribution channels,” David added.

Metro Finance Treasurer, George Pappas, said the transaction highlighted the growing global appetite for high-quality Australian auto and equipment ABS.

“Thirty investors across seven regions, and pricing inside our expectations for a AAA-rated tranche, shows just how far Metro’s reputation in capital markets has come. It’s a strong endorsement of the discipline, diversification and performance we’ve consistently delivered since our first term deal in 2018,” George said.

Metro works with a national network of introducer partners to provide commercial asset finance, consumer car finance, novated leasing and sustainable finance solutions to customers across Australia.

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Mark Donovan

Metro Finance, an award-winning Australian non-bank asset finance lender, capped-off the recent financial year with yet another major milestone, with the Metro loan book value surpassing $6 billion for the first time. Since launching in 2011, Metro Finance has emerged as a leading non-bank lender for personal and business asset finance, providing more than $10 billion in lending for over 120,000 customers since inception.

This achievement caps a strong financial year for Metro Finance, supported by continued investment in technology, customer experience and people.

“This milestone reflects the strength of our business, the trust of our customers and introducer network, and the continued investment we’ve made in technology and our people,” said David Albest, CEO of Metro Finance.

“While we continue to invest in faster, smarter lending experiences, our people remain central to what makes Metro different. That balance of technology and human expertise continues to drive strong outcomes for our customers and partners.”

Metro Finance CFO, Mark Donovan, said the result reflected the strength of Metro’s lending platform and disciplined approach to growth. “We’ve continued to see demand across our key lending categories, supported by disciplined growth, investment in technology and a product offering that continues to evolve with customer needs.”

As part of its continued growth strategy, Metro Finance recently announced that it is entering the dealer finance market, bringing its proven lending platform, streamlined technology and customer-focused approach to a broad network of dealers across Australia. The expansion represents an important milestone in Metro’s evolution, positioning the business to support more customers while further diversifying its lending portfolio and distribution channels.

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Before his appointment as CCO, Shaun was Metro’s Head of Sales and has been with the company for over a decade.

Metro’s CEO, David Albest, was pleased to see Shaun step into the newly created role at a time when the Metro business is experiencing a period of rapid growth.

“I’ve had the pleasure of working with Shaun for over 10 years, and the executive team and I are thrilled to have Shaun step into this important new role to drive the Metro business forward,” David said.

“Metro’s customer-base and the range of products we offer is constantly expanding, and it is in no small part thanks to the hard work of Shaun and his team.”

In his new role as Metro’s CCO, Shaun brings over 22 years of banking and finance experience, including over 10 spent with Metro. As Metro’s Head of Sales, Shaun has played a pivotal role in shaping the national sales strategy and culture. His strong leadership, deep industry knowledge, and unwavering commitment to supporting Metro’s introducers have been instrumental in driving the business’s continued growth.

On his appointment as CCO, Shaun expressed excitement about stepping into the newly created role, while remaining keen to continue driving business growth.

“I’d like to thank David and the Metro business and I’m committed to leveraging my experience to support our brokers and expand Metro’s reach in the market,” Shaun said.

“During my tenure with Metro, the business has expanded exponentially to become one of Australia’s most innovative non-bank lenders. As CCO I’m looking forward to further developing our commercial strategy in partnership with the executive team, our amazing Metro team members and national broker network.”

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Jessica Clarke

Metro Finance, one of Australia’s leading independent non-bank lenders for asset finance, has expanded its popular MetroEco product, which offers discounted rates and flexible terms on a range of environmentally-focused assets, to include a further selection of sustainable technologies.

Unveiled earlier this year, MetroEco is an Australian-first designed to make it easier and more affordable for small-medium enterprises (SME) to invest in environmentally-friendly assets, such as electric vehicles, farming equipment, solar panels and charging solutions. The latest expansion now also includes electric trucks and forklifts – signifying the continued evolution of SMEs and their tools of trade.

MetroEco Business Development Manager, Jessica Clarke, explained that it was important for Metro to support industry adoption of more sustainable technologies.

“Transitioning business operations to a more sustainable model is a priority for many of customers, but in many instances it remains cost-prohibitive,” Jessica says.

“Metro has taken an industry leadership position with MetroEco, and it is our hope to support customers in making that positive step for the good of their business, and the community as a whole,” she continued.

The inclusion of e-trucks and forklifts means that these pieces of equipment now attract a 1 per cent discount on finance from Metro, in keeping with other assets under MetroEco.

Despite the end of local manufacturing in the car sector in the last decade, trucks continue to be built in Australia, which will increasingly include locally-assembled e-trucks.

Metro Finance CEO, David Albest, said that MetroEco’s expanded range of viable assets within the product signified an ongoing shift from businesses to utilise more sustainable methods of transport.

“From being free of night time noise restrictions to deliver off-peak in built-up areas to simply having a predominantly cheaper back-to-base refuelling option, the benefits of electrification in trucking are many,” David said.

“Reducing financial barriers to customers will definitely support the continued uptake of this crucial technology,” they continued.

As part of its commitment to support customers on its sustainable journey, Metro has also collaborated with Green Fleet, a leading not-for-profit environmental organisation dedicated to protecting the climate by restoring forests, and with Trace, a climate technology company founded in Australia with a mission to simplify the process for businesses to assess their environmental impact.

The Metro business continues to go from strength to strength, with a range of innovative, flexible products for business and consumers. Metro works with a national network of introducers to provide a range of customer-led financial solutions including commercial and personal asset finance and novated leasing.

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David Albest

Metro Finance, one of Australia’s most popular non-bank auto and equipment finance providers, has announced the appointment of David Albest as its new Chief Executive Officer (CEO), as Metro Founder and previous CEO, Phillip Crossman, moves into the role of Executive Chairman within the business.

Before his announcement as CEO, David was Metro’s Chief Operations Officer and has been with the company for more than a decade.

Metro’s newly appointed Executive Chairman, Phillip Crossman, was pleased to see David stepping into the role of CEO at Metro – a company he founded in 2011.

“As I take on this new role within the company, I’m delighted to be passing the baton to David; someone I have worked with closely for over a decade, and someone with a wealth of experience both within the Metro business and in the wider finance sector,” Phillip said.

“I am certain David will continue to take Metro to new and exciting heights, and I’m looking forward to supporting David as CEO in my new capacity as Metro’s Executive Chairman.”

In his new role as Metro CEO, David brings over 25 years of asset finance experience to the business, including over 10 spent with Metro. As one of Metro’s first employees, David has been instrumental in growing the business from just three staff and is credited with helping to instill Metro’s customer-first, collaborative culture.

On his appointment as CEO, David was excited for what the future holds for the business, and paid tribute to Phillip.

“It’s an exciting time for the Metro business as we continue to innovate and offer new products to our customers. Certainly Phil leaves some huge shoes to fill, but I’m thrilled to be taking on this new opportunity with the company I have spent the last decade helping to build,” David said.

“I’d like to thank Phil, our staff and introducers for their continued passion, dedication and support. I’m looking forward to taking on this incredible opportunity and leading the Metro team into a new chapter.”

The Metro business continues to go from strength to strength, with a range of innovate, flexible products for consumers. Recently, Metro unveiled an Australian-first: its new MetroEco product, designed to make it easier and more affordable for small-medium businesses to invest in environmentally friendly assets, such as electric vehicles, farming equipment, solar panels and charging solutions.

Metro works with a national network of introducers to provide a range of customer-led financial solutions including commercial and personal finance and novating leasing.

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