Reserve Bank gives thumbs up to Heartland licence

Sun, 16 Dec 2012

Dec. 17 (BusinessDesk) - The Reserve Bank has approved Heartland New Zealand's application to be a licensed bank, ending a long wait for the lender. The central bank said Heartland has become New Zealand's 22nd registered bank in a brief statement. Securing a banking licence has been a key plank of Heartland's strategy in a shift away from a new regulatory regime that imposed stricter conditions on non-bank financial institutions. "Heartland, as a bank, needs to retain the advantages of being small: local and accessible, at all times seek...

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