Heartland posts weaker profit after impairments
The NZX-listed bank attempts to stabilise after feeling the pressure from the economic downturn.
Net profit fell 48% to $38.8 million in the year ended June.
NZX-listed bank Heartland has reported a sharp drop in profit after it was dragged down by impairment expenses in the difficult economy.
Its net profit fell 48% to $38.8 million in the year ended June, while revenue rose 11% to $323m.
In February, the company reported an impairment expense mostly
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