Geneva posts profits of $8.6m
Geneva Finance Group has reported an unaudited pre-tax profit of $8.6 million for a $2.9m improvement on the prior year.
The jump for the nine months up to December 31 reflects stronger group performance “underpinned by disciplined execution and operational progress”.
The company has highlighted its New Zealand lending operation, which was previously impacted by elevated loan delinquencies, as now demonstrating a marked improvement in loan-book health.
It says this recovery highlights the effectiveness of remediation action rolled out, and underscores the group’s operational turnaround and growing strategic momentum.
The lending operations reported a net loss before tax of $0.5m for the nine month period, which was $1.8m better than the same period of 2024/25.
The result was primarily driven by a $1.2m reduction in funding costs reflecting lower funding rates following cuts to the official cash rate over the past 12 months.
Gross receivables declined to $102.9m, down by $18.7m or 15 per cent, compared with the previous corresponding period with a focus on improved credit quality lending.
Looking ahead, the strategy is to drive sustainable receivable growth via targeted re engagement with introducers, increased relationship manager presence, and ensuring its pricing approach remains competitive while balancing risk and returns.
Quest Insurance, meanwhile, continued to be strong with net premium income spiking by to $45.6m for a 24 per cent increase from $36.7m in the nine months ending December 2024. The underwriting result strengthened to $11.1m, up by 18 per cent from $9.4m.
Strong operating cash flows increased Quest’s cash holdings by seven per cent, or $3m, to $44.3m. This was achieved despite a 28 per cent year on year decline in investment income to $1.1m reflecting lower market interest rates. Its solvency coverage ratio remains robust at 137 per cent thanks to “prudent capital management and sustained profitability”.
The Tonga lending operation is performing strongly with net profit before tax increasing to $1.9m, up 31 per cent. Its loan book grew steadily to $12m for 22 per cent growth year on year.
Overall, Geneva Finance Group says it remains focused on maintaining momentum across all divisions in the final quarter of 2025/26.
In lending, a targeted re-engagement programme with key introducers is under way to rebuild origination volumes. Insurance operations continue to benefit from strong policyholder growth and improved claims management.
And the group’s balance sheet is “well positioned” to support lending growth, while “ongoing system enhancements are delivering measurable improvements in scalability and cost efficiency”.
