Heartland’s 'key partnership' with Harmoney effectively ended in 2020

Heartland’s 'key partnership' with Harmoney effectively ended in 2020
Group deputy chief executive Chris Flood failed to “articulate” the end of the Harmoney partnership. (Image: NZME)
Jenny Ruth
What Heartland Group has previously described as a “strategic partnership” with Harmoney effectively ended in early 2020, but Heartland has been unable to point me to when it disclosed that fact.Because of that, Heartland’s funding of retail personal non-bank lender Harmoney is in runoff mode, even though Heartland was talking about “limited loan growth” of personal loans when it reported its first-half results in February.The runoff has been happening since Harmoney announced in February 2020 that it was changing...

More Finance

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
$600m in tourist spend at risk from regulation: Mastercard
Finance

$600m in tourist spend at risk from regulation: Mastercard

When Europe cut interchange fees, foreign card decline rates soared.

Pattrick Smellie 27 Jun 2025