South Canterbury Finance's main assets - its consumer, business and rural loans - have been sold to Japanese investment bank Nomura.
The loans were valued at $123 million, but receivers Kerryn Downey and Williams Black of McGrathNicol say the price paid for them is confidential.
The loan portfolios are the last of South Canterbury Finance's non-risky bank business to be sold, following the sale of Face Finance in May this year.
The South-Island based lender was placed in receivership in August last year, costing taxpayers nearly $1.8 billion in payouts under the Government's retail deposit guarantee scheme.
