DGAP-News: Bancorp Wealth Management New Zealand Ltd.

DGAP-News: Bancorp Wealth Management New Zealand Limited: Bancorp releases 2014/2015 annual report

DGAP-News: Bancorp Wealth Management New Zealand Limited / Key word(s): Final Results/Dividend Bancorp Wealth Management New Zealand Limited: Bancorp releases 2014/2015 annual report

16.02.2016 / 10:15 The issuer is solely responsible for the content of this announcement.

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Bancorp releases 2014/2015 annual report

- Sales: NZ$ 23.5m (previous financial year: $ 25.4m) - After-tax earnings: NZ$ 0.8m (previous financial year: NZ$ 2.7m - Focus on aviation insurance brokerage segment as well as aircraft financing - Earnings per share: NZ$ 0.06 / dividend: NZ 5.0 ct.

Auckland, New Zealand, 16 February 2016 - Bancorp Wealth Management New Zealand Limited (Bancorp, ISIN: NZBWME0001S2) generated NZ$ 23.5m in Group sales in the 2014/2015 financial year (previous financial year: NZ$ 25.4m). After-tax earnings as at 30 June 2015 declined to a total of NZ$ 0.8m (previous financial year: NZ$ 2.7m). Earnings per share came to NZ$ 0.06m, compared with NZ$ 0.44m in the same period a year earlier.

As at the balance sheet date (30 June 2015), the Bancorp Group disposed of cash & cash equivalents amounting to NZ$ 14.0m (30 June 2014: NZ$ 5.5m). With total assets amounting to NZ$ 77.5m (30 June 2014: NZ$ 68.7m) and equity capital at NZ$ 21.4m (30 June 2014: NZ$ 21.0m), the equity ratio came to 27.7% (30 June 2014: 30.6%).

"Profit for the 2014/2015 financial year is partly within the target corridor defined by Management and partly exceeds it. For instance, we had anticipated the decline in sales revenues and slight profit shortfalls owing to the sale and the associated deconsolidation of Auckland Airbus. At the same time, the Boston Marks business during the last financial year turned out below our expectations. In the current 2015/2016 financial year, in addition to intensifying the Boston Marks business we plan to deploy our high volume of cash & cash equivalents also in the field of aircraft financing. We perceive good opportunities here, especially against the backdrop of the newly concluded joint venture with Oceania Aviation Ltd. - New Zealand's leading helicopter engineer," commented Craig Brownie, CEO of Bancorp. Board of Directors Further particulars are available at: www.bancorp.co.nz

About Bancorp Bancorp Wealth Management New Zealand Limited, listed in the Entry Standard stock exchange segment (ISIN: NZBWME0001S2), has various subsidiaries and is primarily engaged in two fields of activity, namely aviation and private banking. The strategic focus in on aviation, with equity interests being held in Aviation Financing, in insurance brokers as well as aviation-related enterprises. The primary operational focus is on the Group's biggest growth driver, an equity interest currently amounting to 49.91% in Boston Marks Holdings Limited, the world's leading specialist intermediary for aircraft insurance policies. The company's international market position achieved is to be continually extended through organic and inorganic growth. Bancorp's private banking arm includes an extensive portfolio of banking products, services and investment opportunities on offer in New Zealand.

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16.02.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

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