Heartland Group Holdings (NZX: HGH) reported a $49.6 million impairment for the six months ending December 31, as its New Zealand banking division adjusts to economic challenges. The company stated it had restructured certain lending portfolios to manage risk in a tough financial environment. Following the announcement, shares dropped 12% to 95 cents, erasing all gains made earlier in the year. The impairment more than doubled from $23.9 million in the first half of 2024, raising concerns among investors about the bank’s financial stability.
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