Heartland banking licence application outcome expected before Christmas

Mon, 26 Nov 2012

By Paul McBeth Nov. 26 (BusinessDesk) - Heartland New Zealand, the lender formed from the merger of Pyne Gould Corp's Marac Finance with the Canterbury and Southern Cross building societies, doesn't expect to know whether its application to become a bank has been successful before this week's annual meeting. The lender expects to find out the success of its application for a banking licence before Christmas, having previously anticipated a decision in November, the company said in a statement. The lender had been hoping to update shareholder...

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