Kontiki Finance Limited, a local credit institution, has reported another successful quarter and expresses optimism for ongoing growth as the economy improves, according to chairman Barry Whiteside.
“We are happy to announce another robust quarter with significant increases in both interest income and net interest income,” he stated.
“This performance solidifies Kontiki Finance’s status as a market leader, and we are hopeful about continued expansion as the Fijian economy recovers.”
The strong results were attributed to profit retention, rising interest income, and a positive trend in financial assets.
“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,” Mr. Whiteside noted.
“Retained profit increased by 10 percent to $28.7 million, whereas comprehensive income rose by four percent to $2.7 million.”
Kontiki’s financial assets climbed from $75 million to $81 million, with assets under management surpassing $300 million.
Total shareholders’ equity rose by seven percent, now amounting to $44.3 million, up from $41.3 million last year.
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