Tower Australia will rebrand within a year, according to MD Jim Minto.

Mr Minto made the announcement during last week’s AGM, where he stated the financial services company is well positioned for growth.

Tower Australia Group demerged from Tower Ltd, the NZ side of the group, in November 2006. Included was an agreement to rebrand within five years.

Last year, Tower Australia reported a 29% increase in after-tax net profit to $41 million.