Geneva Finance lifts first-half profit 56% on increased lending, insurance

Tue, 13 Dec 2016

By Paul McBeth Dec. 14 (BusinessDesk) - Geneva Finance, which paid a maiden dividend earlier this year, lifted first-half profit 56 percent on credit growth in its lending business and higher premium income from its insurance business. Net profit rose to $2.4 million, or 3.35 cents per share, in the six months ended Sept. 30 from $1.5 million, or 2.18 cents, a year earlier, the Auckland-based company said in a statement. Net interest income climbed 49 percent to $3.8 million on a 13 percent increase in lending growth, while insurance pre...

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