Heartland shares gain as 9-mth profit rises 13%, annual guidance affirmed

Tue, 16 May 2017

By Paul McBeth May 17 (BusinessDesk) - Heartland Bank shares rose 2.3 percent after the NZX-listed lender said profit rose 13 percent in the first nine months of its year on an expanding loan book and affirmed guidance for annual earnings growth. Net profit rose to $44.9 million, or 9 cents per share, in the nine months ended March 31 from $39.6 million, or 8 cents, a year earlier, the Auckland-based bank said in a statement. Net interest income rose 10 percent to $119.5 million as the bank's loans grew 11 percent to $3.45 billion from a...

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