Kiwi Asset Finance's lending book nears $40 mln despite stronger than expected competition from banks

By Gareth Vaughan

Kiwibank's finance company, which has been up and running for around two years, has grown its lending book to almost $40 million but found competition from other banks for plant and equipment lending tougher than expected.

Stephen Cole, Kiwi Asset Finance's CEO, told interest.co.nz the business had got off to a slow start but was starting to gather momentum.

"We're about to touch $40 million in net (lending) book," Cole said.

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