Consumer lender Wisr’s move to moderate loan origination to focus on profitability and balance sheet strength has resulted in a declining loan book balance, lower revenue and an EBTDA loss in the September quarter. The company released its September quarter cash flow report yesterday, detailing a 6 per cent fall in originations to A$50 million quarter-on-quarter and a 5 per cent fall in the loan book to $887 million. Revenue was down 1 per cent to $24.3 million and the EBTDA loss was $800,000. Credit quality deteriorated, with the annualised loan loss rate rising to 1.88 per cent – the highest loss rate in two years. The arrears rate was steady quarter-on-quarter at 1.26 per cent but has increased from 89 basis points in the previous corresponding period. On the positive side, the business generated operating cash flow of $5.4 million in the quarter – a 22 per cent improvement on the prior quarter. Wisr said it would continue with its moderated loan volume strategy. Chief executive Andrew Goodwin said in a statement: “The macroeconomic environment and resulting impact on arrears will continue to be closely monitored. Ongoing focus on investment in collections strategies is a priority for the business, with work well underway to deliver various initiatives, including investment in extra resources and technology.” The company also announced that interim chair Matthew Brown will assume the role of chair when John Nantes steps down at the annual general meeting in late November.  Nantes is stepping down to spare the company reputational damage in relation to criminal charges brought against the former chief executive Anthony Nantes, his brother. He had taken a leave of absence to avoid any conflict of interest while the board sorted out Anthony Nantes’ termination arrangements, but now the separation will be permanent.