Heartland shares hit record with $100m profit in sight

CEO Jeff Greenslade has overseen Heartland's decade of expansion (Image: Supplied)

Wed, 25 Aug 2021

A decade on from the merger of Canterbury and Southern Cross building societies with Marac Finance, Heartland Group has almost trebled the size of its loan book and seen a more than tenfold lift in annual profit.The NZX-listed bank and Australian reverse mortgage business yesterday reported a 21% increase in net profit of $87 million in the 12 months ended June 30.The stock hit a record $2.18 yesterday, closing at $2.16, up 2.9% for the day, valuing the financial services firm at $1.27 billion. The merged entity listed at 88 cents in early 2011...

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