Kontiki Finance Limited, a locally-owned credit institution, has announced another impressive quarter, buoyed by a strong economy. Chairman Barry Whiteside expressed optimism about the prospects for sustained growth.
“We are delighted to share that we have achieved another quarter of substantial growth, showcasing significant increases in both our interest income and net interest income,” Whiteside stated.
This performance underscores Kontiki Finance’s status as a market leader, with expectations for continued growth aligned with the Fijian economy’s positive trajectory.
The strong results stemmed from effective profit retention, rising interest income, and a general increase in financial assets. Interest income surged by 29 percent, reaching $11.7 million, while net interest income saw a remarkable 42 percent growth, amounting to $9.8 million compared to the same timeframe last year.
Additionally, retained profit saw a 10 percent increase, totaling $28.7 million, while comprehensive income rose by four percent to $2.7 million. Kontiki’s financial assets expanded from $75 million to $81 million, with managed assets now exceeding $300 million.
The total funds belonging to shareholders also grew, climbing seven percent to $44.3 million, up from $41.3 million the previous year.
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