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South Canterbury Finance subsidiaries renamed


30 September 2008

South Canterbury Finance subsidiaries renamed

South Canterbury Finance is raising its presence nationwide by rebranding 13 regional subsidiaries to trade under the group name founded more than 80 years ago.

“The South Canterbury Finance group is recognised as one of New Zealand’s leading finance companies and is in the select group that has an investment grade rating from international credit rating agency Standard & Poor’s,” says Peter Bosworth, Chief Operations Officer.

“The regional identities of our finance companies have served the company well as local providers of finance for business, rural, property and personal lending.”

“Now, the opportunity is to use ‘a brand new very old name’ to further drive our position as one of New Zealand’s leading providers of finance for funding customer growth.”

“We believe borrowers will gain confidence from knowing that they are being backed by a well established, leading finance company with strong disciplines in place to guarantee that funding lines are secure,” Mr Bosworth says. “Customers will also retain the comfort of local people managing local relationships.”

For existing lending customers there will be no changes in the documentation or other terms of their contracts as a result of the name changes. For staff, it will also be a seamless change.

Today, the names of the 13 regional subsidiaries will disappear from view except in Hawkes Bay where 75 per cent owned Kelt Finance will continue to trade under its existing name. Plant and equipment specialist FACE Finance, also 75 per cent owned, will also retain its separate identity.

ends

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