NZ non-bank lenders lift profit 10% in 2017, buoyed by strong car sales: KPMG

Wed, 13 Dec 2017

By Paul McBeth Dec. 14 (BusinessDesk) New Zealand's non-bank lenders lifted annual profits 10 percent in the 2017 financial year as demand for credit persisted, buoyed by record sales of new cars, KPMG's annual sector update shows. Eighteen of the 25 participants in the KPMG non-bank financial institutions performance survey posted increased earnings in 2017, generating a total net profit of $216.7 million, up from $196.6 million a year earlier. Total assets grew 12 percent to $10.96 billion, with lending boosted by the nation's strong d...

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