Dunedin-based listed finance company MTF Finance has achieved a record month for new loans amid an environment which has made it harder for people to get credit.
In a statement, new chief executive Chris Lamers said August was the company’s largest sales month on a like-for-like basis, and its receivables were now at $748.5 million, up 3% in the past three months.
While known primarily as a car financing company, it recently launched personal loans and it also does business loans.
Mr Lamers attributed the sales growth to the company’s community-based model, reinvigorated focus on the automotive dealer market, and key digital partnerships.
"Our franchises are owned and operated by people that live in the same community as the people they lend to.
"As a result, we form strong relationships with our customers, which means we help them get ahead in good and bad economic times.
"Like some in the industry, we are not just there for them when everything is going well," he said.
In August, MTF Finance wrote 12% more loans by value than the previous months. It said year-on-year comparisons were skewed given the Covid-19 lockdowns of 2021.
Sales were boosted by the launch of its personal lending product and significant growth in the vehicle dealer market where sales grew 25% month-on-month.
MTF Finance recently announced the appointment of Dan Wilkinson as chief technology officer, with Mr Lamers saying the company had strong growth aspirations and needed to transform its technology systems to achieve that.
Mr Wilkinson has worked in a wide range of industries in New Zealand and the United Kingdom and joined MTF Finance after 13 years of executive leadership in the financial services sector in New Zealand.
