General Capital (GEN:NZ) subsidiary General Finance update

General Capital Limited
Level 8, General Capital House,
115 Queen Street, Auckland CBD
PO Box 1314, Shortland Street,
Auckland, New Zealand. 1140.
Phone +64 9 304 0145
Fax +64 9 358 3858
General Capital (GEN:NZ) subsidiary General Finance update.
General Capital Limited advises that its subsidiary General Finance Limited, a licensed Non-
bank Deposit Taker, has uploaded its quarterly report for the quarter ended 31 March 2022 to the
Disclose Register today.
The unaudited quarterly report shows that General Finance’s assets have continued to grow and that
it has generated a strong profit for the quarter.
General Capital is expecting to report on the consolidated Group results for the year ended 31
March 2022 by 30 May 2022.
Mr. Brent King, Managing Director, explained that this report is required as General Finance Limited
holds a Non-bank Deposit Taker licence and the reporting is a requirement of the Financial Markets
Conduct Act 2013.
“We will continue to advise the market each time General Finance Limited uploads a document to the
Disclose Register”, said Mr. King.
The information can be found at www.disclose-register.companiesoffice.govt.nz.
For further information contact:
Brent King
Managing Director
General Capital Limited
+64 21 632 660
Brent.King@gencap.co.nz
3 May 2022

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Issue 26 02 May 2022

GENERAL FINANCE LIMITED
Quarterly report as at 31 March 2022


KEY RATIOS



Capital Ratio


31 March 2022


Our capital ratio calculated in accordance
with the 2010 Regulations*

17.86%

Minimum capital ratio required by our
Trust Deed if the issuer has a credit rating

8%


Minimum capital ratio that must be
included in the trust deed under reg 8(2) of
the 2010 Regulations* if the issuer has a
credit rating

8%


The capital ratio is a measure of the extent to which General Finance is able to absorb losses without becoming
insolvent. The lower the capital ratio, the fewer financial assets General Finance has to absorb unexpected losses
arising out of its business activities.




Related Party Exposures


31 March 2022


Our aggregate exposures to related
parties as calculated in accordance with
the 2010 Regulations*

0.14% of capital

Maximum limit on aggregate exposures to
related parties that we must not exceed
that is included in our Trust Deed

10% of capital

Maximum limit on aggregate exposures to
related parties that we must not exceed
that must be included in our Trust Deed
under reg 23(3)(b) of the 2010
Regulations*

15% of capital

Related party exposures are financial exposures that General Finance has to related parties. A related party is an
entity that is related to General Finance through common control or some other connection that may give the party
influence over General Finance (or General Finance over the related party).


* Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010

Issue 26 02 May 2022




Liquidity

31 March 2022


Our liquidity calculated in accordance with
the quantitative liquidity requirements
included in our Trust Deed

4.54 times

The minimum liquidity requirements
required by our Trust Deed

A liquidity cover ratio of 1.25 times

Liquidity requirements help to ensure that General Finance has sufficient realisable assets on hand to pay its debts
as they become due in the ordinary course of business. Failure to comply with liquidity requirements may mean that
General Finance is unable to repay investors on time and may indicate other financial problems in its business.






SELECTED FINANCIAL INFORMATION

Quarter to
31 March 2022

Total Assets
99,126,231

Total Liabilities
89,420,304

Net Profit / (Loss) After Tax
514,638

Net Cash Outflow from Operating Activities
2,404,309

Cash and Cash Equivalents
17,094,852

Term Deposits
1
Capital (per 2010 Regulations)
1,750,000
9,624,620


1
New Zealand Registered Bank deposits with original term of greater than 183 days.

Issue 26 02 May 2022

HOW THE RATIOS HAVE BEEN CALCULATED


CAPITAL RATIO

Position at 31 March 2022



Capital


Gross capital 9,705,927

Less deductions 81,307

Total capital 9,624,620



Risk

Risk Weighted
Exposures Exposure Weight Exposures

NZ Registered Bank Deposits 18,844,852 20%

3,768,970
Residential mortgages:

LVR 70% and under 65,045,254 35%

22,765,839
LVR over 70% and under 80% 1,093,982 50%

546,991
Other loans with qualifying security
over land and buildings:

LVR 70% and under 13,888,425 100%

13,888,425

Other assets 172,411 350%

603,439
Deductions from capital 81,307

-

Total credit risk weighted exposures
(A)

41,573,664

Total assets (B) 99,126,231

Operational and Market Exposures (A+B)/2x0.175

12,311,241


Total Exposures

53,884,905

Capital Ratio

17.86%
(being Total Capital/Total Exposures)


1
Refer to Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures)
Regulations 2010.

Issue 26 02 May 2022

AGGREGATE EXPOSURE TO RELATED PARTIES

Loans and other on balance sheet exposures to related
parties (A) 13,337
Other related party exposures (B) Nil
Capital 9,624,620
(A + B) / C 0.14%

*Related party exposures are calculated by dividing total related party exposures by Capital
(per 2010 Regulations).


LIQUIDITY

Liquidity (A) 18,844,852

3 month expected loan receivables (B) 10,732,433

3 month expected gross deposit redemptions (C) 6,519,455

(A + B) / C 4.54 times




*The Liquidity Cover Ratio is calculated by dividing Liquidity plus the 3 month expected loan
receivables, by the 3-month expected gross deposit redemptions.