General Finance Continues to Grow and Develop
General Finance Limited, the Reserve Bank of New Zealand Registered Non-bank Deposit Taker has had a very good 12 months to 31 December 2018. The Managing Director Brent King said “the 2018 year has been profitable for the lending markets in New Zealand. General Finance has had a very positive year.”
Friday, January 25th 2019, 3:46PM
Significant events included:
- The listing of its parent company, General Capital Limited (GEN:NZ)
- The raising of additional capital for the General Capital Group
- Increasing deposits by over 35%
- Increasing loans by over 40%
- Moving to new central city offices.
- Appointment of additional staff.
- Implementation of a new loans system
- Completion of a rebranding for General Capital and General Finance
Currently we are holding significant cash and we are looking at lending proposals each day. The transaction inflow has been very strong over the year.
We are pleased with the quality of transactions being presented to us.
The most interesting point for us has been the strong demand from investors. We are finding that investors wish to get a fixed return for a medium term between 6 months and 5 years and as a result our Secured Deposits are becoming very popular. We are hearing from clients that they have too much money in banks earning low rates and they don’t want listed bonds due to the length of the investment. General Finance Secured Deposits seem to be an ideal fit for those who want good rates but medium term Investments.
The investors often feel they are subsidising the Banks who seem to be making very significant profits. An opportunity to invest in a New Zealand Financial Services business which was established in 2001 and offers good returns is a very attractive option for an increasing number of New Zealanders.
The product disclosure statement for General Finance Term Deposits, including application form and interest rates is available on request by calling:
General Finance Limited
Ph (09) 526 5000
Or at https://generalfinance.co.nz/service/product-disclosure-statement/
Email to info@generalfinance.co.nz
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