Farmers Mutual Finance to stop lending

Palmerston North based finance company Farmers Mutual Finance announced late on Friday it had stopped lending and would stop taking new investments immediately.

The Farmers Mutual Group said ownership of a finance company was no longer part of its strategy.

Farmers Mutual Finance said in a statement on its website that existing debenture holders would continue to receive interest payments and capital repayments.

- INTEREST.CO.NZ