What are the top 10 NZX-listed financial companies?

Summary

  • New Zealand has a robust financial infrastructure with some globally acclaimed financial institutions and companies.
  • General Capital’s annual report suggested growth in assets despite facing COVID-19-related difficulties.
  • Last month, Good Spirits Hospitality notified that it had completed an Agreement to Lease the Auckland Viaduct.

Financial companies drive the effectiveness as well as the efficiency of a country’s financial system. They play a significant role by infusing liquidity into the economy, thereby allowing higher levels of economic activities across the country.

NZ boasts some of the renowned and solid financial institutions, which reflect a vital infrastructure through which money flows into its economy.

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That said, here’s a compilation of NZ’s top 10 financial companies.

General Capital Limited (NZX:GEN)

Auckland-based General Capital Limited offers financial services. The Company had recently released its 2021 annual report, where it mentioned despite facing COVID-19-related challenges, its total assets grew by 33%. With bank deposits of NZ$10.3 million towards March-end 2021, GEN is well placed for the future profitable growth.

Moreover, the Company is likely to organise its Annual Shareholders Meeting in late August 2021.

On 16 July, by the end of the trading session, General Capital jumped by 5.36% at NZ$0.059.

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Barramundi Limited (NZX:BRM)

Functioning as an investment company that invests in growth-oriented Australian companies is Barramundi Limited. On 1 July, the Company had appointed an independent director, David McClatchy, who has more than two decades of experience working in the Australasian investment management industry.

McClatchy will also be included to the Boards of Kingfish Limited and Marlin Global Limited, which are BRM’s sister listed investment companies.

On 16 July, Barramundi was flat at NZ$1.080, by the end of the trading session.

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Good Spirits Hospitality Limited (NZX:GSH)

Good Spirits Hospitality Limited invests in the hospitality sector. The Company had notified its stakeholders about the execution of an Agreement to Lease Auckland’s prime site, the Auckland Viaduct, for an initial term of nine years. GSH would remodel the site into a dynamic and new concept matching its existing portfolio.

The shares of Good Spirits Hospitality remained unchanged at NZ$0.080, on 16 July, by the end of the trading session.

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Ascension Capital Limited (NZX:ACE)

Ascension Capital Limited was earlier known as TRS Investments Limited. In its annual report for the year ended 31 March 2021, the Company revealed that it experienced a loss after a taxation of NZ$150,531.

During the year, ACE had appointed two new directors to the Board and had undertaken several capital raising initiatives. The Company is now focusing on identifying a suitable business opportunity to invest or acquire.

On 16 July, Ascension Capital traded flat at NZ$0.001, by the end of the trading session.

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Marlin Global Limited (NZX:MLN)

Another investment-based company on the list is Marlin Global Limited, which invests in growing companies across the world. Some of its major portfolio holdings include Adidas, Alibaba Group, Alphabet, Amazon, Mastercard, and Boston Scientific, etc.

Recently, MLN had appointed David McClatchy as an independent director on its Board.

Marlin Global was flat at NZ$1.60, by the end of the trading session, on 16 July.

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Tower Limited (NZX:TWR; ASX:TWR)

The insurance-based company, Tower Limited, has been running its business for almost 150 years. Recently, the Company witnessed the resignation of its Chief Financial Officer, Jeff Wright, who was instrumental in TWR’s significant achievements and progress. 

Wright would vacate his office in December 2021, and the Company has started to search for a suitable replacement.

On 16 July, by the end of the trading session, Tower gained by 2.08% at NZ$0.735.

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Heartland Group Holdings Limited (NZX:HGH; ASX:HGH)

Offering financial services across NZ and Australia, Heartland Group Holdings Limited had recently revealed that Heartland Australia Group Pty Limited, a subsidiary company, had successfully completed AU$45 million of unsecured bond issuance.

The said issuance would enhance the diversity of the Company’s funding base, proceeds of which would be used for funding future growth and development.

By the end of the trading session on July 16, Heartland Group Holdings dipped by 0.98% at NZ$2.030.

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Westpac Banking Corporation (NZX:WBC; ASX:WBC)

NZ’s prominent bank, Westpac Banking Corporation, has recently notified about appointing Shannon Finch as its Group General Counsel. It is noted that one of the leading corporate lawyers of Australia, Finch, would lead WBC's legal function and would take charge of the new role on 1 November 2021.

On 16 July, Westpac Banking declined by 0.94% at NZ$26.350, by the end of the trading session.

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Australia and New Zealand Banking Group Limited (NZX:ANZ; ASX:ANZ)

Melbourne-based Australia and New Zealand Banking Group Limited has notified its investors about a few significant dates to be considered in H2 FY21. The Company would announce its annual result on 28 October 2021, with the ex-dividend date being 8 November 2021, and the dividend payment date being 16 December 2021.

Also, ANZ has scheduled its Annual General Meeting in December 2021.

Australia and New Zealand Banking Group fell by 0.92% at NZ$28.990, by the end of the trading session on 16 July.

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Harmoney Corp Limited (NZX:HMY)

Operating since 2014, Harmoney Corp Limited has facilitated loans worth $1.6 billion to almost 50,000 customers across both sides of Tasman.

In its recently released 2HFY21 results, the Company delivered its highest ever month of originations in June 2021, worth NZ$53 million. Underpinned by a solid enhancement in new customer originations, the total originations for 2HFY21 stood at NZ$250 million.

HMY maintains a positive outlook for FY22 as group receivables are expected to grow at significantly higher levels.

On 16 July, Harmoney Corp was flat at NZ$2.400, by the end of the trading session.

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