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  1. #131
    percy
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    [QUOTE=Lizard;.



    Coincidentally, I was rung by Heartland today regarding a deposit due to mature for which I'd only recently posted off the form. This is not the place to go into details, but the calibre of that conversation was way, way beyond anything I've experienced since the good old days of telephone banking... not the "enter your pin" variety, but the days when one could ring the bank and they recognised your voice. If there isn't a place for this in the modern world, there is still a place for it in my sentiments.[/QUOTE]




    I think this is most important.It confirms what my friend who went to the "investors' presentation" told me,"they are making sure they have their depositors on side."

  2. #132
    Share Collector
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    Quote Originally Posted by percy View Post
    I think this is most important.It confirms what my friend who went to the "investors' presentation" told me,"they are making sure they have their depositors on side."
    Yes, normally I would be wary about being rung as it is generally an indicator of problems. However, we all know the liquidity crunch the expiry of the guarantee has the potential to cause, so, in this case, I just see it as being pro-active in reducing the volatility of the deposit base. I am reasonably confident that liquidity risk is now below the threshold that could topple them, but I think there are secondary goals for them here in terms of establishing a strong core depositor base and minimising the need to draw on bank facilities.

  3. #133
    Speedy Az winner69's Avatar
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    Everybody must be worried about rolling over money ... even Rabobank rang me the other day to make sure I kept on investing with them

    Easiest way to ensure that i told him was to give some decent rates - ha ha

  4. #134
    Guru Xerof's Avatar
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    Rabodirect are paying 4% for new call money, for a limited time only, so they heeded your call Winner

    Liz, my concerns on HNZ are general, not specific, and are based on my recent experiences gained from cleaning up the mess in a finance company. They will not be immune to credit deterioration, and in certain sectors this is very severe. This is now apparently hitting mainstream banks ( see the story on James Smith building, where ANZ had first mortgage, and will not recover all of their money) Deterioration is also becoming apparent in 'safe' lending areas such as plant and equipment, where cashflow to service these loans is the issue.

    I also do not buy the story that they will get a banking license, but happy for them if they do.

  5. #135
    Legend Balance's Avatar
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    Quote Originally Posted by Xerof View Post
    Rabodirect are paying 4% for new call money, for a limited time only, so they heeded your call Winner

    Liz, my concerns on HNZ are general, not specific, and are based on my recent experiences gained from cleaning up the mess in a finance company. They will not be immune to credit deterioration, and in certain sectors this is very severe. This is now apparently hitting mainstream banks ( see the story on James Smith building, where ANZ had first mortgage, and will not recover all of their money) Deterioration is also becoming apparent in 'safe' lending areas such as plant and equipment, where cashflow to service these loans is the issue.

    I also do not buy the story that they will get a banking license, but happy for them if they do.
    Big disconnect between insiders versus market - only time now will tell who is right.

  6. #136
    percy
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    Quote Originally Posted by Lizard View Post
    Yes, normally I would be wary about being rung as it is generally an indicator of problems. However, we all know the liquidity crunch the expiry of the guarantee has the potential to cause, so, in this case, I just see it as being pro-active in reducing the volatility of the deposit base. I am reasonably confident that liquidity risk is now below the threshold that could topple them, but I think there are secondary goals for them here in terms of establishing a strong core depositor base and minimising the need to draw on bank facilities.
    Since day one everything Heartland has done is to lay very strong foundations for the business.Everything they have said they would do,they have done,and on time.Strong core depositor base is the best foundation they can have.

  7. #137
    percy
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    Quote Originally Posted by Balance View Post
    Big disconnect between insiders versus market - only time now will tell who is right.
    I think I would back the insiders. U2Balance?

  8. #138
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    Xerof what they did not tell you was they reduced the main interest rate a few days before to pay for it So if you have reasonably sized deposits with Rabo Bank you loose out very badly. If it was possible to close my account with them I would It Stinks Still waiting for an explanation of a Balls up they made in February.
    Possum The Cat

  9. #139
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    Thanks for the thoughts, Xerof. Sounds like you have some useful insights, which are appreciated.

    We should probably do some more calcs on the credit risk sometime. There is quite a bit of further write-down built into current price. But, as always with a high-leverage situation, the sensitivity analysis will throw up a big range of outcomes. So probably comes down to personal views on the odds and risk-return weighting to scenarios.

  10. #140
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    Up 3c today and looking stronger with good buying strength and few sellers. Probably too soon to say but SP may have turned the corner at last.
    SCOTTY

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