Kontiki Finance Limited, a locally-owned credit institution, has announced another successful quarter, with expectations for continued growth as the economy improves, according to chairman Barry Whiteside.
“We are happy to share our strong quarter of growth, with notable increases in both interest income and net interest income,” he stated.
“This performance reinforces KFL’s role as a market leader, and we are hopeful for ongoing growth as the Fijian economy continues to strengthen.”
The impressive results stemmed from profit retention, increased interest income, and a rising trend in financial assets. Interest income saw a 29 percent increase, reaching $11.7 million, while net interest income surged by 42 percent to $9.8 million compared to the same period last year, according to Whiteside.
Moreover, retained profits grew by 10 percent to $28.7 million, and comprehensive income rose four percent to $2.7 million. Kontiki’s financial assets increased from $75 million to $81 million, with total assets under management now exceeding $300 million.
Total shareholders’ funds grew seven percent, rising to $44.3 million from $41.3 million the previous year.
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