By Gareth Vaughan
Heartland Bank CEO Jeff Greenslade appears confident victory has been won over the bank's dud legacy property portfolio.
Greenslade told interest.co.nz that, if conditional contracts come to fruition, Heartland will only have to use $5 million of a $15 million provision for the loans by June 30. Heartland had been able to shift the assets "quite effectively," he said.
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1 Comments
It's good to see Heartland heading in the right direction and their overall outlook seems to be positive.What does concern me ,as a small shareholder is that the new company that they have purchased now owns 9% of the company and based on its annual report the top 20 shareholders own over 50% of Heartland.Over the years i have had shares in many companies with large shareholders dominate ownership and it usually ends up with a dilution of your shareholing % or a take over.Ido hope that this is not the case here.
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