Level 11, 191 Queen Street
1010 Auckland, nz
Inclusion in Entry Standard from 16 April 2014
- Bancorp Group reports record results for 2012/13 financial year
- Management maintains continuous dividend policy
- Aviation division will be future growth driver
Bancorp Wealth Management New Zealand Limited (Bancorp) will become the first New Zealand company to be listed in the Entry Standard of the Frankfurt Stock Exchange on 16 April 2014.
The Bancorp Group has 13 subsidiaries and is active in two divisions, Aviation and Private Banking. The Group's main strategic focus is on the Aviation division, which holds equity investments in the field of insurance brokerage, aviation financing and aviation-related companies. The primary operational focus is on the Group's main growth driver, the current 40% equity investment in Boston Marks Holdings Limited, the world's leading independent specialist for the brokerage of aircraft insurance. The achieved international position shall be expanded continuously by organic and inorganic growth.
In its Private Banking division, Bancorp offers an extensive portfolio of banking products, services and investment opportunities in New Zealand.
In the 2012/13 financial year, the Bancorp Group generated total operating revenue of NZD 40.7 million or €24.4 million (previous year: NZD 13.7 million/€8.2 million). This significant revenue growth is primarily attributable to the expansion of the strategic equity investment in Boston Marks Holdings Limited from 20% to 40%, as a result of which the international specialist for the brokerage of aircraft insurance was included in consolidation by the Bancorp Group. Accordingly, around 96% of the revenue generated in the past financial year was attributable to the Aviation division.
In light of this situation, Bancorp's management expects the company's positive development to continue. Based on internal planning, the Bancorp Group is currently forecasting a further improvement in profitability in the 2013/14 financial year on the back of constant revenue. The management is also seeking to maintain ist continuous dividend policy in order to allow shareholders to participate in the company's profitability on a sustained basis. The dividend for the 2012/13 financial year was NZD 0.045 or €0.027, and a dividend of at least the same amount is expected for the current financial year.
The listing is being led by Renell Wertpapierhandelsbank AG, Frankfurt/Main. Renell will act as the designated sponsor for the listing, with GFEI Aktiengesellschaft as the listing partner and capital market agency.
For further information: www.bancorp.co.nz
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