Heartland expects decision on banking licence in November

Thu, 09 Aug 2012

By Paul McBeth Aug. 10 (BusinessDesk) - Heartland New Zealand, the lender formed from the merger of Pyne Gould's Marac Finance with the Canterbury and Southern Cross building societies, expects to get the decision on whether it can have a banking licence in November. The Reserve Bank is making its formal determination on whether to issue a banking licence after the Christchurch-based lender made a written application and provided certain independent reports, Heartland said in a statement. The timeframe for the determination process is uncert...

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