Jarden’s Grant Lowe is a good guy and must be a guru analyst -- BusinessDesk reports he was more upbeat with a $2.27 target, up from $2.09, and an “overweight” recommendation.
Like it
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
HGH not really a bank. More like a finance company.
Motor and asset finance margins went weird all of last year. TRAs Oxford suffered NIM dropping and they commented that the market was very competitive.
I’m not sure entirely why the margins went crazy but I think it had something to do with grant Robertson’s cheap money to the banks. It kicked off a round of poaching and heartland was a player in this. I do recall heartland hired 50 BDMs to hunt business and they were all on 12 month contracts.
Anyways Heartlands NIM will revert back to normal soon
Papers full of stories about how the greedy, nasty, mean and horrible banks are making huge profits while households are suffering and we urgently must have an enquiry into it and sort the buggers out
Stuff headline was By the numbers: Here's why some people think banks are making too much money and story goes on -
Banks continue to make record profits while households experience enormous increases in their mortgage rates.
Bank ethics are also being questioned, after it was revealed banks were offering secretive home loan deals at rates far below those offered to their loyal customers.
So why are so many people so angry?
And then they show a chart headed 'The rise and rise of bank profits'
Although the anger is probably aimed at the big banks it seems that Heartland with their 'rise and rise of profits' could be just as greedy and nasty and horrible
Cool chart though
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
They could be, but at least they are now (usually) the bank offering the best deposit interest rates. In the past Rabobank was number one in that department, but Heartland is giving them a good run for their money now. Customers are less likely to bitch about bank profits when they are getting a significantly better deal from the banks. Not that it will last, but people can at least take advantage of these rates now.
Originally Posted by winner69
Although the anger is probably aimed at the big banks it seems that Heartland with their 'rise and rise of profits' could be just as greedy and nasty and horrible
if only we could buy shares in these banks making humongous profits
Originally Posted by SCOTTY
You can. Take a look on the ASX
I have a feeling that Rawz knows that. In fact you don't even have to go the the ASX, because ANZ and WBC are listed on the NZX.
I think his post was along the lines of "Don't get mad" (complaining about bank profits). "Get even" (buy the bank shares, and harvest the excess bank profits for yourself).
SNOOPY
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
I have a feeling that Rawz knows that. In fact you don't even have to go the the ASX, because ANZ and WBC are listed on the NZX.
I think his post was along the lines of "Don't get mad" (complaining about bank profits). "Get even" (buy the bank shares, and harvest the excess bank profits for yourself).
SNOOPY
You're onto it. Might write to stuff.co.nz and share this info. no excuses now as with sharesies even the smallest of investors can get a slice of these big profits.
stuff.co.nz could then just divert to writing about the greedy CEO's and their big pay packs lol
Supermarkets,
Petrol Stations.
Banks.
Over paid Politicians.
Under paid consultants.
Price of cat food.
Helps to keep people's minds off the bad weather..lol.
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