Future growth is millennials,therefore digital porducts via phones/online channels.
Yes they are confusing residential with reserve mortgages.
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"reserve mortgages". is that like getting a mortgage to buy a Reserve :) Penfolds Grange 2010 $700 - Reviewed Classic, Great Grange
Thanks percy for sharing.
Interest .co.nz reporting that ANZ are in final negotiations with a chineses firm HNA to sell UDC.
If true what next for HBL
I expect it is true,and a number of things will most probably happen.
1] A lot of UDC staff will want to join Heartland.
2] Some UDC customers will move to Heartland bank.
3] Heartland will most probably do a bond issue to help fund their strong organic growth.
What will be of interest will be the price/ratios ANZ sell UDC for.
how do you value reverse mortgages....if hbl sell say 20 million of reverse mortgages this year and no payments are due till recipients pass away and no recipients die for 3 years hbl get no return on their investment for 3 years......do returns start to snowball the longer these loans have been issued.....have to admit these type of loans have been taken up by more people than i ever thought would....must be more asset rich cash poor people out there than i thought......if an Auckland granny had sold her house 10 years ago she probably missed out on $500'000 of capital gains but a revers mortgage would cost her estate a fith of that and she stays in her house so it makes sense i guess
Percy's mate Simon leaving next March - a new CFO hopefully on board my then
Done a sterling job that Simon. Maybe Percy or somebody else on here should organise a small collection for Simon and give him a parting gift. i'll throw in 10 bucks if somebody organises it and writes the nice letter.
Also in the announcement -
Earlier this year we launched the first of our online origination platforms, Open for Business. We are currently developing platforms to originate livestock loans, deposits, residential mortgages as well as intermediary specific solutions. We see the emerging technology for digital platforms giving us the opportunity to be not only the fastest at originating loans but also the cheapest. This is just the beginning of our digital transformation and in appointing a new CFO we will seek a candidate who has the proven ability to lead in an environment characterised by disruption and innovation..
Jeez - a farmer being able to borrow more without getting off the quad bike. That's progress
Also hope these initiatives enable us mere mortals to do elementary banking transactions on a mobile device one day
Last sentence of quote above - seek a candidate who has the proven ability to lead in an environment characterised by disruption and innovation.
They need to apply that thinking to new Board members - missed an opportunity in recent times
Yes Simon Owen did a great job.Always an easy pleasant person to talk to.
The present board have a lot to be proud about.I guess having so much invested in Heartland Bank themselves, gives them the owner's eye.
Maybe getting as much (personal?) data as they can on people so they can bombard them with offers they can't refuse.
Like build up a profile on people over 55 and when the algorithm says 'Joe Henry is down to his last few thou and from the amount he's spent down at Bunnings he must really love his home so Joe is a prime candidate for a reverse mortgage' they send in the A-team to sign up the deal
How much does some businesses already know about you ziggy - heaps I bet
Why are you saying that? Vanessa Stoddart might well be part of this new thinking ... she certainly is used to working in an environment of innovation and disruptions. She certainly understands commercial Internet and mobile applications. If we look at some of the other companies she is involved in - I think that as well NZR as well as the Warehouse walk a quite sensible (and profitable) balance between conserving and innovating.
JOHN KEY for CFO.
Not honest enough; far too teflon like.
I will not invest in a company which has an ex politician on the board.
Doug Graham,Ruth Richardson,Jenny Shipley,Philip Burdon etc have scared me off them.!
I would agree however John Key would be the exception for me. Unlike other ex politicians he has the business smarts and would only be interested in success. He wouldn't have to grab the first offer but would wait for a winner only to come his way. His self made personal wealth speaks for itself. :)