Kontiki Finance Limited, a local credit institution, has reported another solid quarter of growth and expresses optimism for future expansion as the Fijian economy gains strength, according to chairman Barry Whiteside.
Whiteside noted, “We are pleased to announce another strong quarter of growth, with both our interest income and net interest income seeing significant increases.” He added that this performance solidifies KFL’s status as a market leader and boosts confidence in further growth as economic conditions improve in Fiji.
The company’s impressive results were fueled by profit retention, increased interest income, and a positive trend in financial assets. Specifically, interest income surged by 29 percent to $11.7 million, while net interest income grew by 42 percent to $9.8 million compared to the same period last year.
Additionally, retained profit saw a 10 percent increase, reaching $28.7 million, and comprehensive income rose by 4 percent to $2.7 million. Kontiki Finance’s financial assets grew significantly from $75 million to $81 million, with managed assets surpassing $300 million.
Furthermore, total shareholders’ funds rose by 7 percent, now standing at $44.3 million, compared to $41.3 million from the previous year.
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