Heartland Group FY2026 slides: profit doubles on margin gains, TSB deal

Heartland Group Holdings Limited, a New Zealand-based lender, announced its FY2026 results on August 19, 2026. The company reported a significant profit increase, with underlying net profit after tax doubling from $46.9 million in the previous year to $90.4 million. The New Zealand lender also met all underlying guidance metrics, including a 36-basis-point increase in net interest margin to 3.98%.

The strategic reset undertaken by the company strengthened its foundation for future growth, and its shares rose 1.23% to $1.235 following the results announcement. The acquisition of TSB Bank for an aggregate consideration of $620 million is expected to create a New Zealand challenger bank of scale with a regional focus.