Kontiki Finance Limited, a local credit institution, has announced another impressive quarter, with chairman Barry Whiteside expressing optimism for future growth as the economy improves.
“We are excited to share that we have recorded significant growth this quarter, with both our interest income and net interest income seeing considerable increases,” Whiteside noted.
He highlighted that this achievement underscores Kontiki’s standing as a market leader and reassured stakeholders of positive prospects amid the strengthening of the Fijian economy.
The strong results stemmed from profit retention, rising interest on income, and an upward trend in financial assets. Interest income surged by 29 percent to $11.7 million, while net interest income saw a remarkable 42 percent increase, reaching $9.8 million compared to the same timeframe last year.
Additionally, retained profits increased by 10 percent, totaling $28.7 million, and comprehensive income grew by four percent to $2.7 million.
Kontiki’s financial assets rose from $75 million to $81 million, with assets under management surpassing $300 million. Moreover, total shareholders’ equity increased by seven percent, reaching $44.3 million, compared to $41.3 million the previous year.
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