Heartland shares sink on $50m impairment charge
The listed bank now expects net profit between $2m and $5m in first half.
Chief executive Andrew Dixson.
Shares in Heartland Group dived 13% this morning after the listed bank announced a major impairment expense following a deterioration in economic conditions in New Zealand.
By 11am, Heartland shares had dipped 13% to 94c each.
The $49.6 million impairment expense for Heartland Bank related to the
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