They may get money eventually but won't the P&L (earnings) take a hit when the loan turns 'bad' under all the guidelines they report on they assess impairment/provision of doubtful and bad debts
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Yes, but to a large degree, it is already 'built-in' as banks carry non-specific provisions across the entire portfolio, so unless there is a complete meltdown and a very large number of loans turn ugly, (beyond what their security would retrieve) then it just flows from general provision to specific provision
Winner, but in saying that, it isn't all beer and skittles of course. A significant amount of the loan assessment procedures tend (or they did before GFC with finance companies) to rely on the account manager 'knowing their client' and doing an 'honest' review.
Bugger posted this on the wrong HNZ thread
See Jeff et al got a good bonus last year ...balance paid out in shares today
Deserves every cent eh ....yeah right
And that was only half of it ---- he got those last August
and don't mention apartments on this thread .... HNZ not into apartment lending I am told .... not niche enough .... but heck the opportunity must be tempting .... get mortgages and guarantees and all that stuff ... safe as houses ... sorry safe as apartments
9 sqm does seem a bit too cosy though
Shot past the Riccarton branch today - no sign of any repossessed cows being milked by the tellers, so guessing all good.
oops, not meant to talk about cows.....
well, 9sqm apartments - if they built them in a herringbone design they could hock them off to dai....oh, forget it
Off to Sunshine Coast tomorrow, no cows there, just kangaroos and bloody big lizards - all good collateral though - see you in two weeks
History never repeats but sometimes it rhymes.
Barings Bank which had ledgers going back to reign of Mad King George was brought down by the unauthorised dealings of a pimply faced youth in far off Singapore.
That is the trouble with this business you never know when a minion will pick up the phone and bet the bank.
Boop boop de do
Marilyn
It all got to Atkinson
http://www.stuff.co.nz/national/3297...ks-police-hunt
But he turned up
http://www.stuff.co.nz/national/3300...-found-in-park
Wonder who drives MARAC3 now ......and MARAC1 and MARAC2