Allied Farmers said late on Friday it had injected NZ$2.5 million of equity capital into Allied Nationwide Finance "in response to the significant improvement in debenture fund flows resulting from the Crown deposit guarantee scheme." Allied Farmers said the injection was also to ensure that Allied Nationwide continued to prudently remain within its Trust Deed capital ratio. "The capital injection underpins the continued support of Allied Farmers for its finance operation, which forms a key part of its business," it said. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.
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