HGH - Heartland Group Holdings

[macduffy]

Hi Snoopy. I'm puzzled by your statement that the RBNZ requires three years' trading history before considering granting a banking licence. Where in the Act or the RB's published "requirements" do I find this?

[Snoopy]

Hi Snoopy. I'm puzzled by your statement that the RBNZ requires three years' trading history before considering granting a banking licence. Where in the Act or the RB's published "requirements" do I find this?

This is the link to the Reserve Bank's:

"Application for Status as a Registered Bank"

http://www.rbnz.govt.nz/-/media/Rese...ok/3564868.pdf

Look at clause 10c. The 'parent company' at that time was the listed Heartland, because this was before the merger of what would become 'Heartland Bank' to listed Heartland.

SNOOPY

[macduffy]

Thanks, Snoopy.

"Financial accounts for the parent company or bank for the last three years."

A matter of interpretation of "parent company", I guess!

[Snoopy]

Thanks, Snoopy.

"Financial accounts for the parent company or bank for the last three years."

A matter of interpretation of "parent company", I guess!

Heartland formed on 7th January 2011, with the combination of CBS Canterbury, MARAC and Southern Cross Building Society. First balance date was 30th June 2011. First full year balance date was 30th June 2012. Graeme Wheeler takes top job at the Reserve Bank on 26th September 2012. Heartland becomes a registered bank on 17th December 2012. So final Heartland approval must have been underway as Wheeler was walking in the door.

Three years previous results must have come from FY2012, FY2011 and FY2010 (YE 30th June 2010, before Heartland existed). All I can say is the reserve bank must have been particularly generous in their interpretation of what Heartland was. They must have regarded "CBS Canterbury" as Heartland in drag!

SNOOPY

[winner69]

Market seems to have understood what Snoopy was saying about Heartland and rerating them as a consequence.

Share price below the 100MA and 200MA at the moment - TA signals could signal more of a sell off.

Next week could be interesting.

[percy]

Market seems to have understood what Snoopy was saying about Heartland and rerating them as a consequence.

Share price below the 100MA and 200MA at the moment - TA signals could signal more of a sell off.

Next week could be interesting.

I think you are correct.
The correlation between Heartland's fall of 4.8% has affect ANZ down 4.9% today,and Westpac down 4.5% .
As I think he holds ANZ you could say he has shot himself in the foot.!!!..
That should be good for at least another two chapters in his book?.lol..

[Baa_Baa]

Market seems to have understood what Snoopy was saying about Heartland and rerating them as a consequence.

Share price below the 100MA and 200MA at the moment - TA signals could signal more of a sell off.

Next week could be interesting.

Lol, what a load of nonsense.

Conveniently you're ignoring Brexit Day on a crusade to discredit. Almost everything is down today, especially banks, and the 4.76% HBL collapse to $1.20 is below the 200MA at $1.23. In fact even without Brexit, HBL is in a confirmed long term down trend after failing June 14 at the long term declining price trend line and fell below the short term rising support trend line from Feb'16. Now because of Brexit it's just hurting more, so let's see if some tasty morsels are offered up around long support between $1.09 and $1.06.

[Beagle]

Lol, what a load of nonsense.

Conveniently you're ignoring Brexit Day on a crusade to discredit. Almost everything is down today, especially banks, and the 4.76% HBL collapse to $1.20 is below the 200MA at $1.23. In fact even without Brexit, HBL is in a confirmed long term down trend after failing June 14 at the long term declining price trend line and fell below the short term rising support trend line from Feb'16. Now because of Brexit it's just hurting more, so let's see if some tasty morsels are offered up around long support between $1.09 and $1.06.

Brexit puts significant pressure on the European banking system and by extension the worldwide banking system. In a risk averse market it seems quite logical to me that banks with a credit rating toward the lower end of the invest grade spectrum would get hit the hardest. Some of the other large NZX falls are much more difficult to understand.

[percy]

Brexit puts significant pressure on the European banking system and by extension the worldwide banking system. In a risk averse market it seems quite logical to me that banks with a credit rating toward the lower end of the invest grade spectrum would get hit the hardest.

So on your judgement ANZ is at the lowest end because it fell 4.9% today ,and Westpac is at the highest because it only only fell 4.5%!!!!!!!!!!!!!!!!.Heartland fell 4.8% so is better than ANZ,but not as good as Westpac?.
Maybe the fact ANZ has the largest exposure to the Auckland property market has added to their woes...lol.

[stoploss]

Think ASB has the largest exposure to the Auck market Percy ..., always seemed to be a bit like AMI & CHCH to me .....