No doubt a cost to depositors as well. I.e. your first $200k deposit we will pay x-1% and on anything above that we will pay x%
Can socialise the cost to everyone :t_up:
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We got a new logo on Sharesies today, exciting development haha...
yeeha
El Nino a bit of a bugger for StockCo (not my favourite subsidiary of HGH). Things getting hot already in AU w/ farmers selling off / culling livestock earlier than normal, means less funding requirements & interest income for stockco all things equal.
https://www.nzherald.co.nz/the-count...AWGZ7UKJHRJKQ/
Dairy price is going up....HGH will be doing fine
Sickening....it took months to go up to $1.70 range....less than 1 week ...SP drop back to $1.60....gosh.....
yep if you read all the asx bank type stock reports they are all saying nim 's under pressure , competition intense. cant see why NZ would be any different
Heard from senior management of Top retail NZ bank ...he was saying economy and consumers viz a viz bank business are doing much worse then expected at this moment ...was predicting we already in recession and next 6 months prospects pretty dim from bank's point of view .
It has been almost 2 years gloom and doom....yet heartland always delivers.
The economy is now at the button cycle.... definitely reached the button..now the world economy is starting to tick slowly
https://www.rnz.co.nz/news/business/...crease-equifax
Would guess HGH are getting their share.?
hey if we let in another 100k immigrants next yr guess that help again with the loans
looks like stock wants to test those recent lows around 1.51
Fallen almost 12% in 2 weeks, $1.51 has a fair bit of seller weight on it
Could this trade under book value I wonder? As the economy deteriorates more and more.
Doesn’t the aus fringe banks like BOQ trade under book value?
https://www.msn.com/en-nz/news/natio...52b30253&ei=11
Commodity prices have dipped due to an oversupply and softer demand from New Zealand's key market, China.
"Prices of dairy, meat, and forestry products have fallen by 8 to 20 percent compared to a year ago," the report said.
That drop has led Fonterra to adjust its forecast milk price to a mid-point of $7.25 a kilogram of milk solids.
While higher than other payouts in recent years, this season farmers have been fighting rising costs for inputs such as labour, feed and fertiliser and rising debt servicing costs which have doubled in the last two years.
The RBNZ report said the average break-even dairy revenue per kgMS for the 2023/24 season was estimated to be around $8 so at the current forecast some farms would make a loss.
"Banks perceive most of their dairy customers to be reasonably well-placed to weather a short period of low payout. Significant deleveraging in the sector in recent years has contained debt servicing costs and has supported the option for many farmers to go interest-only to alleviate cashflow stress.
"However banks expect defaults among dairy borrowers to rise over the coming year, because there tends to be a time lag between cashflow stress and default," the report said.
It pointed out a prolonged period of low dairy prices or a further reduction in prices were more likely to exhaust the cash buffer of farmers with weaker balance sheets, leading to materially higher default rates.
Federated Farmers president Wayne Langford said the report was not surprising.
"Federated Farmers has been pointing out for a while now that farmers are under huge pressure at the moment, with rising inflation costs, double that of what we're seeing in urban centres, so it's an extremely tough time on farm with product prices coming back as well.
"What was well forecast, was the lowering of the product prices as well. A lot of our expenses come in the first half of the season so when we got early warning we were able to cut back on some of those expenses."
Decent old increase in director fees proposed this year - $1.6m to $2.4m.
Whose going to or joining in the hui this week
Jeez, Challenger Bank Directors going to be well paid eh
And nice the Chair of the newly formed Sustainability Committee is to get $20,000 of the huge increase in Directors Fees
I've voted NO against Directors Fees and NO to re-elect our Greg .......good guy but done his stint and Board needs less old white guys no matter how smart they are.