Heartland focuses on high-margin auto-loans, rural, SMEs as national credit growth stays subdued

Tue, 28 Aug 2012

By Paul McBeth Aug. 28 (BusinessDesk) - Heartland New Zealand, the lender formed from the merger of Pyne Gould's Marac Finance with the Canterbury and Southern Cross building societies, will put its energy into growing high-margin business as credit growth stays subdued for the foreseeable future. Chief executive Jeff Greenslade told analysts in Auckland the lender will look to build its motor vehicle, rural and small and medium sized enterprise loan books which deliver bigger margins as a lack of demand for credit erodes the viability of si...

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