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.
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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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