Lessons to learn after Heartland impairment spike
Listed bank expects ongoing challenging economic conditions in the second half.
Today’s announcement relates to the New Zealand operations.
New Zealand’s sharp economic deterioration has put the squeeze on listed Heartland Group, and more pain may yet flow through the books.
The company today reported a $49.6 million impairment expense for Heartland Bank related to the six-month period ended December 31. That was up on the $23.9m
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