17 Dec 2011

Surviving finance companies are stronger

7:48 am on 17 December 2011

A new survey shows finance companies have emerged stronger and more profitable than the previous year.

KPMG's financial institution performance survey for 2011 shows that overall profitability in the sector has risen by nearly $50 million to $200 million.

KPMG head of financial services John Kensington says three companies failed or closed and the survivors are more conservative with solid reputations.