Word must have hit the street, that HBL had plenty of money to lend.!.lol.
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Thank you for the heads-up. Passing the cost on to the borrowers, thereby making the big 4 Aussie banks less competitive relative to smaller N.Z. owned banks like Heartland I suppose. Seems a bizarre backward punitive tax to me...some strange political maneuverings coming from Australia lately.
We live in interesting times.
Have just been on ANZ Securities site and compared ANZ with HBL over the past 2 years.
Both started at zero.Surprise surprise ANZ is down 7.5% while HBL is up 30%.
WBC remains on Zero and again HBL is up 30%/
Disc ,Hold HBL,but not ANZ.or WBC..
pps Had fun this morning with my Visa Card being declined, at both Pak'n Save and Budget tyres.
First visit to my bank,Ordered a new card as old one was very worn.
Second visit to my bank.Visa network down.
In the meantime Eftpos network was working.
Maybe stuff your mattress with cash so that when you wake up at night and the first thing that comes to your mind is "Am i well positioned?" wriggle, grin ,go back to sleep.:D:sleep:
ANZ and WBC under the pump again today. Feel just a little sorry, (would feel more sorry except I and several others have debated with him at great length about the superior earnings growth of HBL relative to the big Aussie 4) for the other hound. Talk about being thrown a curved ball with that new punitive bank tax ! Ouch !
http://www.smh.com.au/business/feder...09-gw13yr.html Australian Government obviously really desperate for more revenue.
Meanwhile over this side of the Tasman I see our Govt's books are in good shape and tracking much better than expected. http://www.stuff.co.nz/business/9241...-may-25-budget Disc: Patiently waiting for the profit upgrade and next fully imputed dividend. Fully subscribed to dividend reinvestment scheme.