Listening to Road Oram discussing the ANZ on nine to noon while painting our kitchen. I could not believe what I was hearing. Surely John Keys position is untenable.
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Perfect storm for ANZ and key
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Certainly untidy. However on the house, Hisco's wife bought it in July 17, Key became chairman October 17.
Thanks for posting.
Here is the link for those interested.
https://www.rnz.co.nz/national/progr...d-oram-banking
Disc. Holding
ANZ might not be able to spot its own chief executive 'mis-characterising' his business expenses to the tune of half a million, but it can see a naughty netballer a mile off.
https://www.stuff.co.nz/sport/netbal...orate-troubles
Some kind soul should advise ANZ to stop digging that hole!
:mellow:
Current events are not going to be helpful for Sir John when he wants to move from the board room of ANZ NZ to the board room of Bank of America.
Boop boop do do
Marilyn
'ANZ threatens to 'review and reconsider' NZ operations if Reserve Bank pursues capital ratio changes'.
ANZ group chief executive Shayne Elliott has threatened to review the "size, nature and operations" of the New Zealand business if the Reserve Bank implements its proposed changes to capital ratios, according to his submission released publicly today.
The capital changes would see ANZ Group reduce investment and reallocate resources away from New Zealand to more profitable businesses, Elliott says.
"This may also lead the New Zealand business to reduce operational costs (including employee costs)."
It may also require ANZ Group to "dispose, or cease operation, of the relevant underperforming New Zealand assets or businesses"
from there submission. so does this mean they might float some of there business on the NZX that would be great. keep up the pressure
Oh how the banksters cry wolf!
Withdrawing from NZ would cost ANZ an expensive re-branding exercise :p
Something they may need anyway the way their corporate governance and culture is killing their brand.
One thing's for sure. Higher capital ratios will result in lower lending in future as each new loan will require more capital to "protect" it. Personally, I think there's been a bit of bluster on the part of the RBNZ to date and that they will moderate their proposals somewhat. Let's not forget that all banks will be affected - tighter credit; a slower economy.