Record year at finance company
MTF Finance has reported a record year by writing $606 million in loans, which is up by 10 per cent year on year.
The New Zealand-owned company also lifted its receivables by 12 per cent to $761m for its financial year ending on September 30.
Chris Lamers, chief executive officer, says: “MTF Finance has been helping New Zealanders for 52 years and over that time has launched a number of innovations that have changed how vehicle finance works.
“During the past 12 months, we’ve broadened this innovative approach to personal lending while making sure the personal service we are well-known for continues.”
Personal lending has grown by 23 per cent month on month over the past four months.
“At the same time, the team has started working more closely with vehicle dealers, and, as a result, we saw a 58 per cent increase in the number of dealer sales in September 2022 – 3.2 per cent growth over the year.
“How vehicles are sold is fundamentally changing as are the type of vehicles being purchased, and we are partnering to lead the way on getting New Zealanders into the right cars for them.”
Lamers says the business is in a strong position to continue to grow after increased investment in technology, marketing and new products.
“The renewed focus on working with vehicle dealers, alongside the launch of new products and increased investment in technology, has set the business up for continued growth,” he explains. “Our dealer and franchise originators provide an unparalleled customer experience, and we will build on this in the year ahead.”
MTF Finance says it continues to buck the trend by investing more in people to lift personal service for all its customers, rather than forcing people to self-serve or offering different levels of service for different customers.
“We have opened new offices in Kerikeri and Kumeu, and will open in Taupo before Christmas,” says Lamers in a statement to the NZX.
“Borrowing money is a big commitment. We want people to have the option to sit down with someone and really understand how the loan works or to do everything from the comfort of their home. For those who are digital savvy, we also offer digital channels as we believe the customer should be able to choose.”
