Illustration of Financier makes $8.5m in 2024

Kontiki Finance Hits $8.5M Profit: A New Era in Banking?

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KONTIKI Finance Limited reported an impressive after-tax profit totaling $8.5 million for the financial year that ended on June 30, 2024. This announcement was made by the company chairman, Barry Whiteside, during the annual committee meeting held on Wednesday.

Mr. Whiteside attributed this financial success to strategic investments that have supported Kontiki’s sustainable growth and operational excellence. He proudly noted that the company achieved a remarkable dividend yield of 6.07 percent, the highest on the South Pacific Stock Exchange, highlighting their dedication to enhancing shareholder value.

In a significant move toward expansion, Whiteside revealed that Kontiki is establishing operations in Samoa. This initiative is expected to incur operational costs but aims to fortify the company’s business framework. With a new office located on the main street in downtown Apia, Kontiki will become the first credit institution licensed to operate in Samoa. Furthermore, it will also be the first Fijian licensed entity to venture into an overseas market.

In addition to these developments, Kontiki has invested $8 million in a new core banking system. Mr. Whiteside emphasized that this digital transformation will allow the company to provide more efficient and accessible financial services in Fiji, while also improving their credit reporting capabilities and overall operational efficiency. He noted that this successful implementation reflects Kontiki’s strong project management skills and its commitment to technological innovation.

As the company nears its 10th anniversary, Mr. Whiteside indicated the necessity for a thorough reassessment of their strategic direction. The strategic plan aims to deliver exceptional value to shareholders through sustainable growth, fostering a culture of innovation and personal development, and maintaining adaptability to evolving market conditions.

This impressive performance and forward-thinking strategy showcase Kontiki Finance’s commitment to both its shareholders and the broader financial landscape in the South Pacific region. As they continue to evolve and expand, there is a palpable sense of optimism surrounding the future success of the company.


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