25 Nov 2010

CBS Canterbury shareholders vote for 'Heartland' bank

6:01 am on 25 November 2010

CBS Canterbury shareholders have voted in favour of a proposed merger with Southern Cross Building Society and MARAC Finance, to create a 'Heartland bank'.

The resolution was approved by more than 90% of the shareholders who voted.

Southern Cross Building Society shareholders and MARAC Pie Fund investors have already approved the merger.

CBS depositors will vote on the proposal this Friday.