General Capital Subsidiary General Finance Market 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


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 unaudited report for the quarter
ended 31 March 2024 to the Disclose Register.
The unaudited quarterly report shows that General Finance’s business has continued
to grow with total assets of $155m, up by 6.7% from 31 December 2023 and a quarterly
NPAT of $884k up 35.6% from the previous quarter.
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.
“It has been another very positive quarter for General Finance and we look forward
to releasing our full year audited results at the end of May 2024.” said Mr King.
The information can be found at www.disclose-register.companiesoffice.govt.nz.

ENDS
This announcement was authorized by Brent King, Managing Director

For further information contact:
Brent King
Managing Director
General Capital Limited
+64 21 632 660
Brent.King@gencap.co.nz
24 April 2024

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Issue 34 22 April 2024

GENERAL FINANCE LIMITED
Quarterly report as at 31 March 2024


KEY RATIOS



Capital Ratio


31 March 2024


Our capital ratio calculated in accordance
with the 2010 Regulations*

22.26%

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 2024


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

2.01% 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 34 22 April 2024




Liquidity

31 March 2024


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

4.98 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 2024
Total Assets 155,396,962
Total Liabilities 136,647,113
Net Profit / (Loss) After Tax 884,242
Net Cash Inflow (Outflow) from Operating Activities -592,367
Cash and Cash Equivalents 9,857,545
Term Deposits
1
12,714,591
Capital (per 2010 Regulations) 18,391,638

1
New Zealand Registered Bank deposits with original term of greater than 3 months.

Issue 34 22 April 2024

HOW THE RATIOS HAVE BEEN CALCULATED


CAPITAL RATIO

Position at 31 March 2024



Capital


Gross capital 18,749,849

Less deductions 358,212

Total capital 18,391,638



Risk

Risk Weighted
Exposures Exposure Weight Exposures

NZ Registered Bank Deposits 22,572,136 20% 4,514,427
Residential mortgages:

LVR 70% and under 108,114,042 35% 37,839,915
LVR over 70% and under 80% 7,790,679 50% 3,895,339
Second or subsequent ranking 91,312 150% 136,968
Other loans with qualifying security over
land and buildings:

LVR 70% and under 16,224,742 100% 16,224,742

Other assets 245,840 350% 860,441
Deductions from capital 358,212

-

Total credit risk weighted exposures (A)

63,471,832

Total assets (B) 155,396,962

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

19,151,019


Total Exposures

82,622,851

Capital Ratio

22.26%
(being Total Capital/Total Exposures)


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

Issue 34 22 April 2024

AGGREGATE EXPOSURE TO RELATED PARTIES

Loans and other on balance sheet exposures to related
parties (A) 368,838
Other related party exposures (B) Nil
Capital (C) 18,391,638
(A + B) / C 2.01%

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


LIQUIDITY

Liquidity (A)
22,572,136
3 month expected loan receivables (B)
18,751,675
3 month expected gross deposit redemptions (C)
8,304,769
(A + B) / C 4.98 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.