General Finance experiencing good growth
General Finance is seeing growth in its business as investors chase good yields.
Thursday, 2 July 2015
“The year to March 2015 was a good year for General Finance”, director James Lockie said. The company was issued with a Non-bank Deposit Takers licence by the Reserve Bank in February 2015. Its deposit base grew by 20%, over the last year, and its lending business has expanded.
"Profitability also strengthened on the back of increased lending.”
General Finance reported the following audited result:
Capital was maintained at $3.2 million, with a risk weighted capital ratio of 55% (well above the 10% required).
"The company is currently experiencing a strong demand from those looking to place deposits at higher than bank yields," Lockie said.
General Finance is a licensed Non-bank Deposit Taker, specialising in short term advances, secured over residential property.
Comments from our readers
No comments yet
Sign In to add your comment
Weekly Updates including news and commentary
Today's Best Bank Rates
Today's Top 5 Deposit Rates
Find a Rate
Cash PIE Rates
10 April 2017
12 January 2017
11 January 2017
21 November 2016
12 November 2016
Disclaimer - Every possible effort has been made to keep the information in the tables and on this site as accurate as possible, however, neither the publisher, Tarawera Publishing, nor anyone engaged to compile the rates and this site accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details with providers. The full terms and conditions of this site can be found here.
© Copyright 1997-2017. Tarawera Publishing Ltd. All Rights Reserved.