HGH - Heartland Group Holdings

[Beagle]

you were wise to edit the post and delete the piece about driving habits in Auckland! Sailing a bit close to the wind there.

Mai is a woman, not women.

Thanks for saying it for me

[vorno]

What's this? a few days have passed us by without a single post! Quickly, someone post some stats!

[couta1]

What's this? a few days have passed us by without a single post! Quickly, someone post some stats!

Bear market depression setting in for the winter

[vorno]

Bear market depression setting in for the winter

What are you talking about?! I'm on my 2nd beer already!!

[RTM]

" ....interest income rose 6 percent to $832 million as the local lender grew its mortgage loan book 5 percent to $40.7 billion and business lending expanded 5 percent to $24 billion. Impairment charges on bad debts rose to $31 million from $4 million a year earlier, when the bank benefitted from provision recoveries."

From a report on Westpac. Food for some thought with respect to "Impairment charges on bad debt....etc".

Will be interesting to see if they give some detail as to the change from 31mil to 4mil, Have not looked as yet.

[macduffy]

I wouldn't read too much into the Westpac situation. The previous $4m charge was abnormally low as a result of some hefty provision recoveries in that period. The assessed quality of the book has been maintained with +90 day mortgage arrears slightly improved. Just don't mention the run away property
prices in Auckland and what effect a significant correction there would have!

[macduffy]

I wouldn't read too much into the Westpac situation. The previous $4m charge was abnormally low as a result of some hefty provision recoveries in that period. The assessed quality of the book has been maintained with +90 day mortgage arrears slightly improved. Just don't mention the run away property
prices in Auckland and what effect a significant correction there would have!

[Beagle]

HNZ's specific bad debt and general provisioning jumped considerably in the recent half year result. Despite that profit also jumped substantially.

[winner69]

Liked this bit from Westpac story

The New Zealand unit widened its net interest margin to 2.29 percent in the period from 2.28 percent a year earlier, as cheaper wholesale funding costs and improved deposit spreads offset competitive pressure in the mortgage market.


Hope Heartland does a bit better when they widen their margin

[percy]

i wonder if heartland are looking
http://www.nbr.co.nz/article/fp-appl...erge-bd-172257

Would be a great fit.
I would think for it to happen either Heartland would need to raise a lot of capital,or Haier would have to accept a lot of Heartland shares.I seem to remember early on Balance [where is he? ] felt a merger would be possible.