Heartland lifts first-half profit 14%, ups share purchase plan

Mon, 20 Feb 2017

By Paul McBeth Feb. 21 (BusinessDesk) - Heartland Bank increased first-half profit 14 percent as the NZX-listed lender's loan book grew at the same time as it benefited from cheaper funding costs. Net profit rose to $29.1 million, or 6 cents per share, in the six months ended Dec. 31 from $25.6 million, or 5 cents, a year earlier, the Auckland-based company said in a statement. The bank's loan book grew 7.1 percent to $3.33 billion, with rural and business loans expanding at a faster pace than household lending. Profit was ahead of Forsy...

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