Heartland buys Australia's Challenger Bank for A$36m; ends talks with Avenue Bank

Heartland buys Australia's Challenger Bank for A$36m; ends talks with Avenue Bank
Heartland Group Holdings chief executive Jeff Greenslade. (Image: Supplied)
Riley Kennedy
Heartland Group Holdings, the owner of Heartland Bank, has signed an agreement to purchase Australia's Challenger Bank for A$36 million (NZ$39.8m).The dual-listed New Zealand-based banking group said Challenger Bank was a “stronger acquisition opportunity” for Heartland as it looked for a full banking licence across the ditch, and it ended a memorandum of understanding to purchase another Australian bank. Heartland said the share purchase agreement for Challenger Bank from its ASX-listed owners, Challenger, remained subject...

More Finance

TVNZ targets one million digital viewers logged in by 2030
Finance

TVNZ targets one million digital viewers logged in by 2030

The latest performance forecast unfolds the broadcaster’s online ambitions.

JPMorgan is revamping Its bank for the superrich
Finance

JPMorgan is revamping Its bank for the superrich

There is a minimum required balance of US$10 million. 

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025