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UDC records a half year Net Profit after Tax
Media Release
18 June 2012
UDC Finance Limited records a half year Net Profit after Tax of $18.7m
UDC Finance recorded a net profit after tax of $18.7m for the six months ended 31 March 2012. This result was achieved through high lending activity, strong asset and customer growth while maintaining good loan quality.
"We have continued to focus on our core business of financing plant, machinery and equipment,” said CEO Chris Cowell. “In particular, we have concentrated on understanding the needs of our customers so we are better placed to help their growth.”
UDC continues to enjoy strong support from its deposit customer base resulting in high reinvestment rates.
ENDS
UDC is a wholly owned subsidiary of ANZ
National Bank New Zealand, and has a Standard & Poor's*
credit rating of AA-, in line with the major banks.
*Credit ratings issued by Standard & Poor’s Ratings Services are solely statements of opinion and not statements of fact or recommendation to purchase, hold or sell any securities or make any other investments decisions. Latest ratings can be found as www.standardandpoors.co.nz
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