New finance house formed
Atlas Majestic Industries, Ltd, has joined two merchant banks in the formation of Finance House, Ltd; the other partners in the new finance company are Securitbank, Ltd, and Slater Walker New Zealand, Ltd, a wholly owned subsidiary of Slater Walker Australia, Ltd.
Finance House, Ltd, is based in Auckland and became fully operational on December 1. Its activties include consumer and industrial instalment credit, leasing finance, and long-term and bridging finance in the property field. Securitbank, which has net assets of about $2 million, ! and was instrumental in developing the short-term money market in New Zea-
land, provides a full range of merchant banking services. Atlas Majestic Industries, the net assets of which are about s2.Bm, is a manufacturer and distributor of consumer durable products including refrigerators, cookers, and television receivers. Its consumer financing activities will form the basis of Finance House, Ltd’s, consumer finance service to retailers.
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Bibliographic details
Press, Volume CXII, Issue 33092, 6 December 1972, Page 27
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152New finance house formed Press, Volume CXII, Issue 33092, 6 December 1972, Page 27
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