Heartland bank makes NZX50
Newly-formed ‘Heartland" bank' is now among the country's top 50 listed companies.
Newly-formed ‘Heartland' bank’ (officially the Heartland Building Society) is now among the country’s top 50 listed companies.
Heartland (HNZ) is ranked at 43 on the NZX, after the stock exchange’s June quantity index review.
Heartland was recently formed from the merger of Pyne Gould Corporation’s (PGC) former subsidiary Marac Finance and two buildings societies. It is now seeking a full banking license.
As at June 30 2011, Heartland had $1.6 billion in retail deposits. The aggregate of cash, liquid assets and available funding lines was $0.6 billion or over a third of total retail deposits as at 30 June 2011.
Inclusion in the NZX50 follows the bank’s move last month to buy PGG Wrightson Finance, extending its reach into the rural sector.
Shares in HNZ rose 1 cent to trade at 68cents this morning, having fetched between 66 cents and 95 cents since the February 1 sharemarket listing.
NBR staff
Fri, 08 Jul 2011
Fri, 08 Jul 2011
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Heartland bank makes NZX50
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