Kontiki Finance Limited, a locally-owned credit institution, has announced a successful quarter, expressing confidence in sustained growth as the economy continues to improve, according to chairman Barry Whiteside.
“We are happy to share another strong quarter of growth, with significant increases in both our interest income and net interest income,” he stated.
Whiteside highlighted that this performance solidifies KFL’s status as a market leader, and he remains hopeful about further expansion in light of the strengthening Fijian economy.
The impressive results were 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 jumped by 42 percent to $9.8 million compared to the same quarter last year.
Additionally, retained profits grew by 10 percent to $28.7 million, and comprehensive income increased by four percent, reaching $2.7 million.
Kontiki’s financial assets rose from $75 million to $81 million, with assets under management now surpassing $300 million. Total shareholders’ funds increased by seven percent, totaling $44.3 million, up from $41.3 million the previous year.
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