The latest update is out from Kina Securities Ltd. ( (AU:KSL) ).
Kina Securities Ltd. reported a solid financial performance for the fiscal year 2024, with a 7% increase in underlying net profit after tax (NPAT) to PGK111.9 million. The company’s loan book grew by 13%, contributing to a 15% rise in net interest income, while non-interest income surged by 33%, driven by foreign exchange and digital channel revenues. Despite challenges such as cost volatility and a payments fraud incident, the company maintained a strong balance sheet with a capital adequacy ratio of 18.4%. The final dividend was declared at AUD 6.0 cents per share, reflecting a payout ratio of 74%. Incoming CEO Ivan Vidovich highlighted the need for process refinement and cost control as the company continues to focus on its digitally oriented strategy.
More about Kina Securities Ltd.
Kina Securities Ltd. operates in the financial services industry, primarily offering banking services with a focus on loans, digital channels, and foreign exchange income. The company is positioned as a challenger bank in Papua New Guinea, emphasizing growth in non-lending revenues and maintaining a strong capital adequacy ratio.
YTD Price Performance: 0.88%
Average Trading Volume: 130,643
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$331.1M
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