MTF continues to reinforce its position as a leader in the New Zealand specialist lending market, demonstrating resilience and strategic foresight in a challenging economic environment. MTF has not only navigated economic headwinds but has also expanded its market share, reaching new heights in lending and reinforcing its commitment to transformation and customer-centric solutions.
Exceeding Milestones: A Testament to Strength and Strategy
FY24 marked another year of robust performance for MTF, proving the strength of its unique business model. "If 2023 showcased our potential in favourable conditions, 2024 demonstrated our resilience against headwinds.” explains MTF Chairman, Mark Darrow. “Despite economic challenges, the company along with our originators performed extremely well. This is a testament to the strength of our model, our strategy, the commitment of our team, and the enduring trust of our customers."
2024 Performance Summary:
- MTF continued its upward trajectory with a 10% growth, finishing the FY24 with over $1.1 billion in receivables and total assets exceeding $1.2 billion.
- Profitability remained strong, with an Underlying Profit After Tax (UPAT) of $9.6 million, reinforcing MTF’s ability to generate reliable returns despite market fluctuations.
- MTF distributed a record $91.6 million in commissions and fees to its originators—a 7% increase from the previous year—further demonstrating its dedication to supporting its partners and fostering industry growth.
- MTF experienced strong customer growth, reaching 71,000 customers from 63,500 from the previous year, representing a year-on-year growth of 12%.
Channel Expansion: A Leader in Vehicle Financing
MTF’s continued focus on customer-centric lending has positioned it as a dominant force in vehicle financing. According to Centrix market share data, MTF is now responsible for one in five vehicle loans in New Zealand, making the dealer channel the company’s fastest-growing sector. This achievement is a direct result of MTF’s strategic investments and its ability to adapt to evolving consumer needs.
"MTF’s success is rooted in our ability to remain agile, embrace transformation, and prioritise customer relationships," says CEO Chris Lamers. "We are not just another finance company—we are a trusted partner helping New Zealanders achieve their goals with transparency and integrity."
Embracing Transformation for the Future
Recognising the importance of digital innovation, MTF’s business transformation programme is progressing on schedule, with significant improvements expected over the next 12 to 18 months, including several Artificial Intelligence models to support our people in helping New Zealanders. The acquisition of The Lending People has provided valuable technology infrastructure, forming the backbone of MTF’s enhanced digital lending systems. While the direct channel has faced challenges, the company remains focused on leveraging digital-first solutions to reach a broader customer base.
In addition, MTF’s Future Directors programme continues to build leadership capability within the organisation, with six originators having completed the programme. MTF, in partnership with the Institute of Directors, is proud to announce the appointment of two new Future Directors to join the MTF Board in 2025: Stephen Coutts and Julia Bentley.
This initiative underscores MTF’s commitment to nurturing future industry leaders and ensuring the company remains at the forefront of financial services.
Governance and Strategic Vision
MTF’s Board remains steadfast in its mission to preserve and grow shareholder value. By maintaining a long-term perspective and making strategic investments when others retreat, the company is well-positioned for sustained success in an improving economic landscape.
Noel Johnston has been re-elected for another term on the Board, bringing continuity and experience to MTF’s leadership as it navigates the future.
"As we move into FY25, our focus remains on refining our strategic plan to navigate an evolving financial ecosystem," says Lamers. "With regulatory changes, technological advancements, and shifting consumer expectations, MTF is committed to staying ahead of the curve, delivering exceptional value to our customers, partners, and shareholders."
It’s paying off for MTF.
As MTF embarks on its 55th year, the company remains resolute in its vision to be New Zealand’s most successful lender by making lending all about people again – and it’s paying off.
At the heart of this success is a team of highly skilled professionals whose expertise, dedication, and forward-thinking approach drive the company’s competitive edge. Their deep industry knowledge, customer-first mindset, and ability to adapt to an evolving financial landscape ensure MTF remains at the forefront of lending in New Zealand. It is this collective strength that transforms ambition into achievement, making the MTF team the true force behind the company’s continued success.
Through resilience, transformation, and an unwavering commitment to its customers, MTF is not just navigating the future—it’s shaping it.
