Kontiki Finance Limited, a local credit institution, has announced another successful quarter, with chairman Barry Whiteside expressing confidence in ongoing growth as the economy improves.
“We are delighted to report robust growth, with significant increases in both interest income and net interest income,” he stated.
This strong performance solidifies KFL’s leadership position in the market, and the outlook remains positive as the Fijian economy continues to strengthen.
The institution’s growth was attributed to retained profits, a rise in interest income, and a positive trend in financial assets.
Interest income surged by 29 percent to $11.7 million, while net interest income rose by 42 percent to $9.8 million compared to the same period last year, according to Mr. Whiteside.
Furthermore, retained profits increased by 10 percent to $28.7 million, while comprehensive income climbed by four percent to $2.7 million.
Kontiki’s financial assets grew from $75 million to $81 million, surpassing $300 million in assets under management.
Total shareholders’ funds saw a seven percent increase, reaching $44.3 million, up from $41.3 million in the previous year.
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