UDC's main expertise is now in providing asset-backed finance for plant, vehicles and equipment, where they do not rely on land or buildings as security.
[2] Government policy of the day prohibited the issue of new banking licences so Financial Services obtained registration as a moneylender in August 1938[3] and began investing in hire purchase contracts with a special interest in New Zealand's secondary industry.
[4] In order to establish international ties and better access to capital for New Zealand businesses London based banker United Dominions Trust was invited to purchase a shareholding.
However the government partly relaxed its regulation of trading banks and finance houses in the 1960s allowing United Dominions Trust to sell 20% of its shares.
UDC's own trading bankers, the Bank of New Zealand, did not take up the opportunity but elected to set up their own operation, BNZ Finance.