Heartland Bank announces full year results and Kia partnership

Heartland Bank announced its full year results for the financial year ending 30 June 2026 (FY26) today, highlighting a new nationwide partnership with Kia New Zealand aimed at enhancing inventory management for the Kia network.

Heartland Bank Chief Auto & Asset Finance Officer Alistair Scott said receivables grew modestly by 1.5% to $1,719.5 million.

“But the important point is the improved quality of the portfolio.

“Dealer receivables reduced as we deliberately shifted away from lower-quality broker and non-franchise lending, and towards higher-quality franchise lending. At the end of FY26, franchise lending made up 46% of the Motor Finance portfolio; non-franchise 18%; and broker 29%,” he said.

At the same time, Heartland Bank’s direct-to-consumer channel grew strongly, up 25.7% in FY26.

Jaguar Land Rover global production disruption, from late in the first half of 2026 into the early second half, elevated demand volatility.

However, new business volumes improved in the second half as vehicle supply levels returned, (up 3.6% from 1H2026 to $399.4m in 2H2026), supported by record EV lending volumes in March 2026 and an expanded partnership with key distributor Kia.

Kia partnership

The new Kia partnership means Heartland Bank will provide all funding for Kia vehicles held in dealer inventory, allowing dealerships to manage their floorplans efficiently. The upgraded inventory management system allows for full transparency of nationwide stock and live data of Kia’s sold order status.

Not only will this enhance the dealer experience, but it also helps preserve working capital and supports vehicle availability across their forecourts.

Heartland Bank Chief Auto & Asset Finance Officer Alistair Scott says: “We’re delighted to be selected to provide stable, bank-sourced finance to Kia, one of New Zealand’s most popular vehicle brands.

“Providing cars to New Zealanders requires a dependable, reliable support ecosystem that ensures a smooth transit for cars from Kia to customers.”

“The success of this partnership with Kia creates further opportunities to establish similar relationships with other leading brands. Importantly, the foundations we have built here deliver proven, streamlined processes that can now be leveraged and scaled,” says Alistair Scott.

Kia New Zealand Managing Director Todd McDonald said: “Our partnership with Heartland Bank is about creating a stronger, more connected Kia network. By improving the way vehicles flow through our dealer network, we’re giving dealers greater visibility, efficiency and flexibility while reducing the time it takes to deliver a customer’s new Kia.

“Ultimately, this investment helps ensure more Kiwis can get behind the wheel of a Kia sooner, backed by the outstanding service experience they expect from our dealer network.”

Kia is one of New Zealand’s favourite car brands, coming second only behind Toyota for top selling cars for 2026 (figures to July 2026), according to Canstar. The brand has built a reputation for quality, value, and ongoing innovation, backed by industry leading warranties.

Last year, Kia New Zealand achieved the ultimate accolade at the Roy Morgan New Zealand Customer Satisfaction Awards, taking home the highly coveted ‘Best of the Best’ title – the award reserved for the single brand with the highest overall customer satisfaction across all industries – and was also named ‘Car Manufacturer of the Year’.

For further information and insights on Heartland Bank’s car loans product, please visit Car Loans & Finance | Heartland Bank.

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