Pyne Gould Corporation says getting a banking licence will take some time, as it concentrates on getting a credit rating.
The listed company has returned to profitability, making a surplus of $10.1 million in the six months to December.
Last year, Pyne Gould raised $273 million to fund its expansion into banking and funds management.
Chief investment officer Craig Stephen says he would be pleased if a banking licence for the Marac Finance arm of the company is achieved by early next year, but much of it is out of his hands.
He says the company has completed phase one, which is capital restructuring of the business and the restructuring of the company's management team and board.
Mr Stephen says phase two is securing the credit rating and the banking licence will follow shortly after that.
He says the stronger financial position should see the removal of the possible downgrade it received from credit rating agencies last year.
PGC says it's on track to make its forecast full year profit of $20.9 million.