Heartland needs to lift return on equity: Greenslade

Tue, 12 Nov 2019

Heartland Group Holdings needs to lift its return on equity closer to comparable benchmarks in Australia, managing director Jeff Greenslade told shareholders at today's annual meeting. "Despite exceeding benchmark rates of peers in terms of receivables growth, net interest margin and cost-to-income ratio, ROE is at the low end of expectations," Greenslade said. Comparable benchmarks in Australia suggest a range of 11-to-15 percent and Heartland produced headline ROE of 11.1 percent in the year ended June. Excluding one-off costs, ROE t...

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