Heartland wins 94.80 percent TSB vote: what it means for Heartland Group Holdings stock

Published on 10/07/2026 at 02:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TSB is valued at NZD 620 million in the proposed deal. For Heartland Group Holdings stock, this means NZD 1.3 billion in market value on October 7, 2026.

HGH, NZHGHE0007S9, Illustration mit AI erstellt.

Heartland Group Holdings (ISIN NZHGHE0007S9) secured shareholder approval for its proposed TSB merger, with 94.80 percent of votes cast in favor on September 30, 2026, according to NZX. The vote advances a proposed NZD 620 million transaction that would combine TSB Bank with Heartland Bank.

What the 94.80 percent vote means

The shareholder mandate clears the corporate approval required for the acquisition of all TSB shares from Toi Foundation and the later merger of the two banks. The resolution passed with support from shareholders representing 58.09 percent of Heartland's issued capital, according to NZX.

The transaction still requires the remaining conditions and necessary regulatory approvals. For Heartland Group Holdings stock, that makes execution and regulatory clearance the central next milestones rather than the shareholder vote itself.

Fiscal 2026 profit rebound

Heartland reported net profit after tax of NZD 93.2 million for the year ended June 30, 2026, compared with NZD 38.8 million in fiscal 2025, according to FilingReader. Underlying net profit was NZD 90.4 million, while the net interest margin reached 3.95 percent in fiscal 2026.

Total receivables increased 9.10 percent to NZD 7.80 billion in fiscal 2026, and the board resolved a fully imputed final dividend of NZD 0.035 per share. The figures give the merger debate a stronger earnings backdrop, although the proposed transaction also introduces integration and regulatory execution requirements.

Market value and transaction conditions

Heartland Group Holdings had a market capitalization of NZD 1.3 billion on October 7, 2026. The 52-week range was NZD 1.01 to NZD 1.30, placing the company near the upper end of its annual trading band while the merger moves through its remaining conditions.

On the NZX, Heartland Group Holdings traded at NZD 1.23 on October 7, 2026 at 12:55 p.m. NZDT, versus a prior close of NZD 1.22. The further course of trading is shown by the continuously updated real-time quote of Heartland Group Holdings stock.