Bank stocks

[macduffy]

talking about ANZ australia listed on the ASX. He might be able to stop NZ branches of the banks paying a dividend to the parent , but has no power to stop the Listed entity in Australia paying a dividend.

Correct. ANZ are complying with the Aust regulator's directive to restrict dividends to a maximum of 50% of profits, to strengthen capital.

[thegreatestben]

Showing on my NZX sharesies market depth this morning

[iceman]

UDC finally sold, to Japan's Shinsei Bank https://www.interest.co.nz/banking/1...ch-coupled-its

[winner69]

UDC finally sold, to Japan's Shinsei Bank https://www.interest.co.nz/banking/1...ch-coupled-its

On price book basis Heartland would be about $1.40 .....(discounted by what the huge impairment to be announced next week or so )

[nztx]

Despite the UDC Sale news -- SP seems to be taking a bit of a hiding .. WBC similarly today

[macduffy]

Despite the UDC Sale news -- SP seems to be taking a bit of a hiding .. WBC similarly today

It's hardly news though, merely confirmation that the sale has been settled. Aussie banks are sharing in the general market "down" day.

[kiora]

Physical branches, bad idea
https://www.livewiremarkets.com/wire...-avoid-in-2021

[Norwest]

Interesting call Today from a Bank Manager (one of the big four if it matters), I have a sizeable Term Deposit reaching maturity date this week, the interest rates I was offered even over their carded rates are terrible compared to last time I renewed a TD in June so I won't be reinvesting.

Being cheeky I decided to ask the Bank Manager how many of his clients are doing what I am doing i.e. not renewing their their TD's and they said "a lot".

Digging further information from the RBNZ regarding TD's we can see this is true across the NZ Banking sector as a whole. The below table details TD's (in $millions)

Jul 2020	Aug 2020	Sep 2020
$185,411m	$180,784m	$178,218m

This is not a monthly cyclical pattern either, in September 2019 there was $195,802m in TD's

Thinking to what Beagle had told me regarding Kiwi Bonds, I looked up the application form which he had provided and these small returns given their guarantee were probably my best bet. Unfortunately getting the latest up to date form to apply I now see that those rates have been slashed by 40% since Beagle had posted these merely 6 weeks ago.

Interesting times indeed.

[macduffy]

I use maturing T/D's to buy bank, and other, stocks.

[Soolaimon]

I use maturing T/D's to buy bank, and other, stocks.

Been doing the same for some time now. So far still getting some sleep at night.....