Reflecting weak loan demand in the banking market over the past year, Heritage Bank yesterday reported a fall of 2.4 per cent in earnings for the year to June.
Heritage issued a media release with some unaudited figures for the 2011/12 year: net profit was A$31.27 million; assets increased by 2.2 per cent, to $8.2 billion; and loan approvals increased by 5.6 per cent.
Heritage's chief executive, John Minz, said in the statement that lending volume picked up in the June half. The bank wrote $569 million of loans in the December half and $866 million in the second...
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