New Zealand-based Heartland Bank’s Australian activities have played a big part in boosting its coffers.
The bank, which offers deals in motor vehicle and equipment finance, saw an 11% increase in profit for the year to June 30 to NZ$67.5 million.
Net operating income was up 15% to $NZ196.8m.
One of the highlights included 39% growth in its Australian operations to $721m.
Heartland board chairman Geoffrey Ricketts says the results highlight another “successful year” for the bank.
“The potential for acquisitions remains a part of Heartland’s strategy, both in New Zealand and Australia. Heartland will pursue acquisitions which align with its strategy, are value accretive, and which deliver access to innovation, distribution capability or alignment with Heartland’s core products and competencies,” Ricketts says.
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