Heartland to amalgamate businesses, flags possible $100 mln capital return

Thu, 05 Nov 2015

By Suze Metherell Nov. 6 (BusinessDesk) - Heartland New Zealand, the listed bank, will amalgamate all its businesses, including its senior finance unit and Harmoney Corp investment, in a bid to simplify its corporate structure, and has signalled plans to return up to $100 million to shareholders. The Auckland-based lender is the product of the 2011 merger of Canterbury and Southern Cross building societies with Marac Finance, the corporatisation of what was then Heartland Building Society and a number of acquisitions, it said in a stateme...

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