Heartland Group Holdings has provided a positive trading update for the three months to March 31, 2025.
The company said it remains on track to achieve a net profit after tax of at least $45 million for the financial year ending June 30, 2025.
Heartland Group Holdings said its net interest margin expanded by 28 basis points in the third quarter, with improvement seen in both Heartland Bank and Heartland Bank Australia.
Operating expenses in the third quarter were stable, and both banks are on track to meet their expectations for the six-month period ending June 30, 2025.
The company also highlighted asset quality improvements in Heartland Bank's motor finance portfolio, following the introduction of more prescriptive collections and recoveries policies.
It said early recovery efforts for motor finance loans written off in February 2025 have exceeded expectations.
Heartland Group Holdings said it is focused on sustainable, profitable growth and has seen strong growth in gross finance receivables in reverse mortgages and livestock finance in New Zealand and Australia.
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