Bank stocks

[macduffy]

Looking forward to share buybacks with the massive reserves the banks currently have. Prefer a buyback to a dividend with no access to franking credits

Banks should always operate with "massive reserves", it's their best bulwark against the risk of their business - borrowing short and lending long. Incidentally, the restriction on NZ banks paying dividends, in respect of the Aust bank subsidiaries, affected their NZD quasi-capital issues. The Aust parents continued to pay divs, albeit at reduced rates, on ordinary shares. Not so for Heartland etc. of course.

[Waltzing]

ANZ result out increases in home lending . Div 70 AUS.

No payment from NZ to AUS Parent.

[tim23]

ANZ result out increases in home lending . Div 70 AUS.

No payment from NZ to AUS Parent.

Market price ANZ v WBC closing - its been about $3 recently in ANZ favour traditionally they have been about the same so maybe we are seeing a switch back to WBC?

[Tomtom]

There seems to be some indication they may buy retail assets from Citi in Australia. Let me be very blunt in saying that ANZ Banks recent history suggests it currently lacks managerial capability to execute M&A effectively. I hope they are capable of reaching the same conclusion independently as management hubris has not served this bank well in the past.

Disc: Holding.

[macduffy]

Disc: Holding.

Why? Confidence in management is a "must" in my opinion.

[Scrunch]

Why? Confidence in management is a "must" in my opinion.

Running existing operations well and doing M&A well are different skillsets. I'm with tomtom that you can concurrently hold shares, have confidence in them running existing operations and have doubts about M&A abilities. Part of the issue is the increased likelihood that any M&A acquisitions for somone the size of ANZ is more likely to be offshore or in sectors only aligned to banking. This makes mistakes easier to make as there are differences between the target and the business you know well.

[maclir]

Running existing operations well and doing M&A well are different skillsets. I'm with tomtom that you can concurrently hold shares, have confidence in them running existing operations and have doubts about M&A abilities. Part of the issue is the increased likelihood that any M&A acquisitions for somone the size of ANZ is more likely to be offshore or in sectors only aligned to banking. This makes mistakes easier to make as there are differences between the target and the business you know well.

Even when it's another bank I think they've struggled historically, for example with the PostBank back in the 90s and then again with the National Bank. Both aligning product lines and in particular IT systems are tough to get right.

[Norwest]

CBA hitting all time high's again and again, looks like it's going to touch $100 very shortly.

[Crypto Crude]

https://7news.com.au/business/bankin...king-c-3138889

Aussie banks are down... no problems with bitcoin it keeps going