Kontiki Finance Limited, a locally-owned credit institution, has announced a robust financial performance for the latest quarter. Barry Whiteside, the chairman, expressed optimism for continued growth as the economy gains strength.
Whiteside highlighted that the institution has achieved significant increases in both interest income and net interest income. “We are pleased to report another strong quarter of growth, with our interest income and net interest income both showing substantial increases,” he stated.
The strong results were driven by profit retention, increased interest on income, and a positive trend in financial assets. Interest income surged by 29 percent to $11.7 million, while net interest income saw a 42 percent increase to $9.8 million, compared to the same period last year.
Retained profit also saw a 10 percent rise, reaching $28.7 million, and comprehensive income grew by four percent to $2.7 million. Kontiki’s financial assets climbed from $75 million to $81 million, and total assets under management exceeded $300 million.
Furthermore, total shareholders’ funds grew by seven percent, totaling $44.3 million compared to $41.3 million the previous year.
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