HGH then is basically a banking broker...
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HGH then is basically a banking broker...
The outcome is no different from how any bank operates then. They take in other people's money, and lend it out to other people with not much of their own in between.
Yes. But that hasn't stopped them outsourcing their Mom and Dad customer arrangements to Westpac.
It would be a wholesaling agreement. And it would have been negotiated in such a way that allowed Heartland to set their own deposit and loan rates. As long as what was negotiated doesn't mean that Westpac breaches their own banking covenants!
Yes Heartland would be affected. I can't see how they could escape it. The saving grace is that as a Heartland customer you are effectively a wholesale Westpac customer. So if the government announced that all personal accounts at Westpac were to be frozen for 48 hours, that might not apply to your Heartland account as a matter of course.
Get the full 19 digit banking codes of all of your Heartland accounts. Any that start with '03' are Westpac accounts. Yes Heartland are using Westpac as an agent. That fact alone doesn't mean that Heartland accounts are Westpac accounts. But in this instance they are.
SNOOPY
Like the CEO address http://nzx-prod-s7fsd7f98s.s3-websit...198/336436.pdf
• Finally, the possibility of structuring the Bank’s Motor business as a separate entityunder the Bank may assist in highlighting any intrinsic value which may not be reflectedin current bank-based benchmarking. This may also provide flexibility and efficiency interms of access to, and cost of, capital.
yes since no one is going to want those old gas powered thingee's ..... crushed within 10 years...but the finance companies get there money and you dont... love it... all i need in sweden is a bike and for the hangers on ... which one of you took my bike today!!! They all peer at me.. NOT ME! only you cant even trust your nearest and dearest...
imagine all those car finance agreements on holden V6 and 8's i feel sorry for all those kiwis...
anyone have any numbers on model types... those will be the hardest to sell on soon..
The pedigree hound is always happy to back his own sense for a decent feed. Looking very good so far !
Heck Winner - who are they kidding with $83-$85m, 3 times 29.9m = 89.7m so with ongoing growth they should do $90m+ !!...and they're not utilizing last year's Covid overlay.Quote:
• Net profit after tax $29.9 million vs. full year guidance $83 million to $85 million
• Net interest margin and cost to income ratio in line with expectations
• Overall balance sheet growth flat – repayments in non-core Relationship Lending as well as
Open for Business and Harmoney have offset growth in core areas (Business Intermediated,
Motor, Reverse Mortgages NZ and Reverse Mortgages Australia)
• Economic overlay taken in FY20 has not been utilised
• Impairments to date much lower than anticipated
• Reassessment of fair value of equity investment in Harmoney may impact FY21 NPAT guidance
range
Hmmm...opportunity knocks !
So do you know for certain that it is a wholesale agreement and not merely and agreement use Westpac branches as agents? Have you got any links? Surely the agreement should be available to the public if an account holder is affected by Westpac operations?
I may have missed it and cannot locate it, but have Heartland announced or published a disclosure statement indicating their arrangement is an Wholesaling agreement as opposed to an agency for use of their branches?Quote:
Get the full 19 digit banking codes of all of your Heartland accounts. Any that start with '03' are Westpac accounts. Yes Heartland are using Westpac as an agent. That fact alone doesn't mean that Heartland accounts are Westpac accounts. But in this instance they are.
SNOOPY
I am not sure that codes really help - 06 (old National Bank) codes are not really independent from 01 codes.
So pleased to see a photo of Natasha Abeysundara in the presentation - member of the Rangatahi Advisory Board
Natasha a good person
RaboBank accounts also have an 03 prefix. I've been banking with RaboBank for many years even when they were guaranteed by their Dutch parent owner and I've never seen the slightest sign that they are financially entangled with Westpac. I suspect WestPac are simply leasing space on their servers to them.
This is what i like to hear!!
The Group remains capable of declaring an interim dividend at half year in line with previous‘usual’ dividends, should performance and conditions be supportive. Once the RBNZ restrictionsare removed, subject to the usual prudential considerations, a return to historical pay-out ratiosis expected.
You've got it wrong beagle - slow down wand think when you get all excited
Heartland generally makes more in H2 than H1
So 4 months = $30m is H1 likely profit $45m and on recent H1/H2 splits gives $95m for full year ...plus ongoing strong growth gives $100m
At $100m that's an EPS of 17 cents - your 14 PE gives what as a share price ....and what size divie
Answer in Te Reo Maori please
This is the main points I take from it. Have to say I am finding HGH's reports more difficult to read amongst all the woke ****e they increasingly put in their reports. Have bought a few this morning.
As at the end of October, which is the first four months of FY21, NPAT is tracking at $29.9 million (versus full year guidance of $83 million - $85 million).
Margin and Costs have been maintained, with NIM and Cost Income Ratio both in line with expectations
FY 20 dividend of 7c per share but returning to “normal” in 2021. I expect 10c
Overall balance sheet growth has been flat. Repayments from non-core area of Relationship Lending, Open for Business (O4B) and Harmoney have offset growth in core areas of Business 4 Intermediated (up 13% per annum); Motor is up 11.5% per annum; Reverse Mortgages are up 4.4% and 11% respectively per annum in New Zealand and Australia (excluding the FX impact). Lower interest rates and customers utilising the government’s packages appear to have contributed to the level of repayments.
Impairments way down
Economic overlay of $9.6m not been used but kept for 2021
Intermediated (up 13% per annum); Motor is up 11.5% per annum; Reverse Mortgages are up 4.4% and 11% respectively per annum in New Zealand and Australia (excluding the FX impact). Lower interest rates and customers utilising the government’s packages appear to have contributed to the level of repayments. Livestock is also down due to seasonality reasons.
Te Rangatahi - book 1 - 3 , published 1980 .. i await the beagle reply but i am not a translator. Ill settle for a market update ...holders since PGC until recently.