Kontiki Finance Limited, a locally-owned credit institution, has announced another impressive quarterly performance, demonstrating optimism about the continued growth of the business as the economy improves, according to Chairman Barry Whiteside.
“We are pleased to report another robust quarter of growth, with significant increases in our interest income and net interest income,” said Whiteside. This positive trend underscores Kontiki Finance’s standing as a market leader, and the company is confident about further expansion as the Fijian economy progresses.
The strong financial results are attributed to profit retention, increased interest income, and a consistent rise in financial assets. Interest income surged by 29 percent to $11.7 million, while net interest income experienced substantial growth of 42 percent, reaching $9.8 million compared to the prior year. Additionally, retained profit rose by 10 percent to $28.7 million, and comprehensive income grew by four percent to $2.7 million.
Kontiki has also expanded its financial assets, increasing from $75 million to $81 million, as assets under management have now surpassed $300 million. The total shareholders’ funds saw a growth of seven percent, reaching $44.3 million in contrast to $41.3 million last year.
This performance not only reflects the resilience of Kontiki Finance but also signals a positive trajectory for the financial sector in Fiji. With continued management of growth and robust financial strategies, there is a promising outlook for both the institution and the broader economy.
In a time when many sectors face uncertainty, Kontiki Finance’s success highlights the potential for growth and stability in local businesses, suggesting that with the right leadership and strategies, there is indeed a path toward prosperity even in challenging economic times.
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