Updated General Capital subsidiary General Finance update
Issue 36 24 October 24
GENERAL FINANCE LIMITED
Quarterly report as at 30 September 2024
KEY RATIOS
Capital Ratio
30 September 2024
Our capital ratio calculated in accordance
with the 2010 Regulations*
21.71%
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
30 September 2024
Our aggregate exposures to related
parties as calculated in accordance with
the 2010 Regulations*
5.85% 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 36 24 October 24
Liquidity
30 September 2024
Our liquidity calculated in accordance with
the quantitative liquidity requirements
included in our Trust Deed
4.58 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
30 September 2024
Total Assets 180,407,825
Total Liabilities 159,888,783
Net Profit / (Loss) After Tax 764,391
Net Cash Inflow (Outflow) from Operating Activities 20,082,423
Cash and Cash Equivalents 24,284,945
Term Deposits
1
13,823,933
Capital (per 2010 Regulations) 20,129,070
1
New Zealand Registered Bank deposits with original term of greater than 3 months.
Issue 36 24 October 24
HOW THE RATIOS HAVE BEEN CALCULATED
CAPITAL RATIO
Position at 30 September 2024
Capital
Gross capital 20,519,043
Less deductions 389,973
Total capital 20,129,070
Risk
Risk Weighted
Exposures Exposure Weight Exposures
NZ Registered Bank Deposits 38,108,878 20% 7,621,776
Residential mortgages:
LVR 70% and under 120,857,395 35% 42,300,088
LVR over 70% and under 80% 2,752,304 50% 1,376,152
Second or subsequent ranking 125,964 150% 188,946
Property development loans:
LVR 60% and under 1,051,984 150% 1,577,976
Other loans with qualifying security over land
and buildings:
LVR 70% and under 16,898,029 100% 16,898,029
Other assets 223,298 350% 781,543
Deductions from capital 389,973
-
Total credit risk weighted exposures (A)
70,744,510
Total assets (B) 180,407,825
Operational and Market Exposures (A+B)/2x0.175
21,975,829
Total Exposures
92,720,339
Capital Ratio
21.71%
(being Total Capital/Total Exposures)
1
Refer to Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010.
Issue 36 24 October 24
AGGREGATE EXPOSURE TO RELATED PARTIES
Loans and other on balance sheet exposures to related
parties (A) 1,176,982
Other related party exposures (B) Nil
Capital (C) 20,129,070
(A + B) / C 5.85%
*Related party exposures are calculated by dividing total related party exposures by Capital
(per 2010 Regulations).
LIQUIDITY
Liquidity (A)
38,108,878
3 month expected loan receivables (B)
14,271,931
3 month expected gross deposit redemptions (C)
11,428,150
(A + B) / C
4.58 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.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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