Dont exagerate t_j - Briscoes sales are 50% / 60% off - Heartland was only about a 10% off sale.
Better push on from here - been a frustratingly disappointing stock the last year but i live in hope. Maybe i am in love with them.
Printable View
Lofty expectations? Is there any bank -globally- sitting on a PE of more than 12 right now?
On another note I was out at Rangiora a couple of weeks back. There was a note there on the former Heartland premises that they had relocated the branch to Riccarton. What a crock. The Riccarton branch has been where it is for some time. The Rangiora branch has been closed down. That is the real truth of the matter. So much for Heartland's rural roots. Roll on the Heartland rural rout!
SNOOPY
What was the precise wording of the note?
Any decent financial institution will begin with:
"Dear customer.
In order to serve you better we have [relocated this branch...]"
If they did not use that precise wording they are probably dodgy and you should not give them your money.
Best Wishes
Paper Tiger
A couple of months ago I took my sons hard earned cash to add to a term deposit that he had with Heartland.What do you know ....they don't take cash.....but directed me to Westpac across the road with a deposit form.
Obviously when a bank don't take cash well they can forget it.
Heartland is more of a specialised financer these days. Actual banking functions (like mortgages, now done through kiwibank IIRC) and - now it seems cash - are all being outsourced. Best to think of Heatland in terms of the old 'Claytons' drink ad.
'Heartland'. It's the bank you have, when you don't have a bank!
SNOOPY
Sounds actually very smart, get Westpac (or another bank) to do all the hard work (counting the cash, paying tellers, storing the cash, having a heavy retail frontage, reconciliations etc etc) while heartland just gets the easy end game: the direct credit transfer... maybe it's one of the reasons they can pay you, the customer, the better term deposit rate? ;)
Exactly right.!!
HBL's actual banking functions are out sourced to Westpac,so you can bank cash into your Heartland Bank account, at any Westpac Branch.There is even a Westpac branch in Geraldine for you Blockhead,and one Rangiora for you Snoopy.!!..lol
From Heartland Bank's recent presentation you can see where Heartland see their future in banking;
"Market leadership in digital distribution and digital marketing to deliver a radically better customer experience based on 'ease and speed'".'
From the way "open for business" has taken off they are certainly well on their way to achieving their objectives.In fact they are receiving per day online ,what I would expect a bank with between 100 and 150 branches would achieve. [Worth thinking about.]!
I also hear they are receiving a lot of applications for REL loans on line,which rather surprised me until I thought about it.
Yippee - a close above 130
Was about that at beginning of year. Got to 130 odd in June for one day before fading away
This time it will be different - it will kick on for sure
No acquisition on horizon, no capital return - but a profit upgrade in August i reckon.
Looking good for Heartland over next few months
Hello Percy. Pretty good weather, for Winter, in Christchurch today. I have been getting my Gnome Passport stamped, with the Grandkids, in the Botanic Gardens today. Then I got the problem, what on earth are REL loans on line. Plus the mystery of the bank that has abolished cash, as in folding cash. All most mysterious. Please help!