Asset posted a pre-tax profit of $659,000 in the year ended March 31, compared to a pre-tax loss of $367,000 a year earlier, and now has to contend with getting through the end of the government's guarantee. Last year, the firm flagged it would not seek entry into the government's extended scheme, saying the price was too prohibitive and limited its opportunities to source funding.

"Despite the fact that it is now not able to offer a crown guarantee, the company has continued to receive deposit funds at a level comfortably sufficient to sustain current and projected lending growth," the company said in a statement.

The end of the government's cover has been a problem for most non-bank deposit takers, and has been cited by Standard & Poor's as a major liquidity threat to the sector.  As at September 30, Asset's total loan book exceeded its deposits by more than $6 million, though much of that was the period up to the end of March. In the period covering the October 12, when the guarantee expires, Asset projected a shortfall of $1.2 million from its incoming loans to cover its maturities.

The company said slow growth in its depositor funding and lending loan book underpinned its increased revenue, alongside a "significant reduction" in loan write-offs and provisioning for impaired loans.