Consumer lender Harmoney has announced plans to delist from the New Zealand stock exchange (NZX) and consolidate its listing on the ASX.

The New Zealand based company, founded in 2014, said in a statement that its stock has a low level of liquidity on the NZX and its business growth is largely in Australia.

The company will change its financial reporting currency from New Zealand to Australian dollars in the current financial year.

The company has a NZ$685 million unsecured loan book, which grew 37 per cent over the year to June 2022. It originated NZ$472.4 million of loans during 2021/22 – up from NZ$255.4 million the previous year.

Loan originations in Australia were NZ$267 million – an increase of NZ$180 million over the previous year. New Zealand originations grew by NZ$36 million to NZ$205 million.

The company said consolidating its listing will reduce its compliance obligations, and administrative and financial costs.

The company has provided a list of brokers and advisers that will provide an ongoing share trading service for New Zealand investors.