The company, with a strong tradition dating back nearly 70 years, got its shake-up following the resignation of former chief Brent Knight earlier this year.

Knight’s replacement, Garry Fissenden told the New Zealand Herald that he saw the printing industry and IT equipment as examples of areas where the company could lend more.

The company’s growth going forward would come from increased lending in less traditional areas, he said.

UDC has mostly financed plant, machinery and equipment and has a big reputation in the transport sector. It is owned by banking giant ANZ.

Among Fissenden’s other big moves is to dump the famed UDC Endeavour sailing ship logo. It will disappear gradually, being replaced by a new-fangled abstract design intended to show the company’s more modern outlook.

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