Another idea
Heartland should go into pawn broking
Acquire Cash Converters?
Printable View
Another idea
Heartland should go into pawn broking
Acquire Cash Converters?
C'mon w69 , stop harassing poor old Percy...................like Heartland he's only doing his best.
Customers will have skin in the game. I'm sure HNZ won't be lending to people with poor credit records. Thus, there credit score is their skin.
Wasn't the GFC mostly around property development lending?
Personally, I'm happy with both their Holden and iFinance initiatives. It means eps growth is not solely reliant on HER.
Many of the problems with second and third tier lenders were around identity fraud and valuation fraud, known as hydraulicing in the motor vehicle industry. Jack the theoretical price of the vehicle sky high and give the illusion the customer paid a proper deposit. This is often run in tandem with minimum trade-in guarantee's e.g. $3,000 regardsless of condition provided you can drive it onto the yard. Skin in the game is genuine deposit money and in my opinion from what I have seen there is no substitute for genuine skin in the game.
A good credit record is something that can go bad quite easily in adverse circumstances. To the best of my knowledge I cannot recall this sort of no wallet no worries buying cars on no deposit and no repayments for eight months before. Anyway I've said enough, I'm not trying to talk this thing down as I still have a 10% portfolio allocation at this stage...just calling this as I see it and people can make their own minds up about whether this is prudent lending or something else.
Percy, mate you can flip that thing around the other way, no job, no need for a car. Commuting in Auckland is a nightmare in a car anyway and young people are mobile and are usually happy to shift near a transport hub.
https://www.nzx.com/companies/HNZ/announcements/264616
Heartland Bank Releases Third Quarter Disclosure Statement
9:35am, 21 May 2015 | QUARTER
NZX Release
Heartland Bank Releases Disclosure Statement for Third Quarter
21 May 2015
Heartland Bank Limited (Heartland Bank), the banking subsidiary of Heartland New Zealand Limited (Heartland) (NZX: HNZ), today released its disclosure statement for the nine months ended 31 March 2015 in accordance with the Registered Bank Disclosure Statements (New Zealand Incorporated Registered Banks) Order 2014.
Unaudited net profit after tax (NPAT) for Heartland Bank was $30.9m for the nine months ended 31 March 2015. Unaudited NPAT for Heartland (parent company) over the same period was $36.1m. The difference in NPAT is primarily due to the portion of Heartland’s reverse mortgage book that is held outside Heartland Bank.
Heartland expects its NPAT for the year ended 30 June 2015 to be at the upper end of the previously advised NPAT range of $46m - $48m.
- Ends -
Q1 was $11.0m Q2 was $12.5 and Q3 looks like $12.6m and Q4 $11.5m if top end of guidance meet
So if this is true "Heartland expects its NPAT for the year ended 30 June 2015 to be at the upper end of the previously advised NPAT range of $46m - $48m." then profit growth momentum has come to an end and earnings are stagnating around $12m plus or minus a bit every quarter. that seems our lot.
Things not looking too bright ...or else some some subtle earning management taking place,
Bloody disappointing. Only decent thing is that the her stuff is making money
But percy will be rapt ....they continue to do as they say.
Well done heartland, if that's your full year expectations this year then not one would what one would expect from the previous hype.
Heartland at best seems to be have settled into being a steady as she goes finance company and will be valued accordingly.
That $1.60 plus shareprice is now years away
I was going to put something in Maori but my Maori mate said even you white guys might be offended so left it out.