NZ: Macquarie Bank’s Oceania Group back in the black

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Retirement Village operator, Oceania Group which is owned by Macquarie Bank, has returned to profit after the bank wrote off interest owing on loans to the group. Oceania Group operates 59 villages in NZ and is based in Auckland. Macquarie wrote off $58.9 million of interest on its $238.1 million loans to the group and Oceania’s operating income rose 6.2% to $196.3 million.