Company aims to expand
MTF has delivered a strong financial performance at its 2026 annual general meeting with the company now focused on executing the next phase of its transformation and expanding its lending capability across New Zealand.
For the year ending September 30, 2025, the company wrote $792.2 million in new lending, had record originator earnings of $91.6m and closed the year with finance receivables of around $1.1 billion.
Shareholders received dividends totalling 27.5 cents per share including a special dividend, which reflected strong performance and continued progress in business transformation.
Board chairman Mark Darrow, pictured, says the results provide a strong foundation as the finance provider “moves from transformation to delivery”.
He adds: “MTF enters 2026 with momentum, a strengthened platform and clear focus on execution. Our priority now is translating our investment into tangible benefits for customers, originators and shareholders.”
Darrow has also announced the retirement of deputy chair Stu Myles, after two terms on the board. Myles has been on the board since 2020 and a franchise owner since the inception of the network in 2008. He recently sold his Christchurch franchise to focus on a new opportunity within the MTF network.
“Stu’s leadership has been central to the business success over the past five years,” says Darrow. “His deep understanding of governance, commitment to shareholder value and leadership inside and outside the boardroom has underpinned his significant impact.
“The professionalism and commitment to doing the right thing by people and the business, characterises the approach Stu brought to his time on the board. In particular, his support as deputy chair has been valued and appreciated.”
Hamish Jacob, owner of MTF Thorndon in Wellington, has now been elected to the board. “Hamish, who recently completed MTF’s future director programme, has hands-on leadership experience and a strong understanding of the vehicle finance market,” says Darrow. “We welcome him to the board.
“Our originating shareholders remain at the heart of our decision-making. The alignment between shareholder interests and business performance is a defining feature of MTF, and continues to set us apart.”
Chief executive officer Chris Lamers says MTF’s strong customer advocacy provides confidence as the business enters its next phase.
He adds the focus for the year ahead is on leveraging new capability to accelerate growth and improve customer access to finance.
“We’ve built the foundations over several years. Now it’s about delivering the full benefit, broader product offerings and an even better experience for customers and originators.”
Looking ahead, MTF has signalled measured optimism in a recovering economic environment with focus areas including lending to small and medium-sized enterprises, longer tenure and specialist products, and continued investment in its franchise and dealer networks.
“We are seeing encouraging signs across New Zealand, in particular in regional New Zealand and the South Island, where improving confidence in sectors like agriculture, tourism and construction is flowing through to customers and small businesses,” says Lamers. “Because our originators live and work in these communities, we’re often seeing these shifts early.”
He adds the dealer channel remains a significant opportunity. “The way New Zealanders are buying vehicles is changing and we need to evolve with that.
“Strengthening our position in new-vehicle finance helps us capture more of the customer journey, including the second-hand market, which remains our core business.
“We are confident in the year ahead. We have the platform, people and strategy to help more New Zealanders achieve their goals, which will lead to continued growth in shareholder value.”
