ANZ.NZX - Anyone holding?

[macduffy]

Market seems reasonably comfortable with the interim, despite the rather large fall in cash profit, dividend decision deferred, and provisions.

The real action is, of course, on the parent's exchange, the ASX, where ANZ's shareprice is down 27c at present. It seems that judgement on the announcement, like consideration of a dividend, is being deferred for now.

[Biscuit]

The real action is, of course, on the parent's exchange, the ASX, where ANZ's shareprice is down 27c at present. It seems that judgement on the announcement, like consideration of a dividend, is being deferred for now.

Yes, Aussies not so optimistic as the kiwis overall at the moment. ANZ seem confident they will be able to contend with whatever is thrown at them over the next few months, but then a bank would say that - confidence is everything. I guess their confidence comes also from their liquidity, and liquidity in the system. No matter how rough it is in the short-term, the whole she-bang will skid along on all the excess money until it eventually gains some traction on the other side. The dividend will be a blow to some, but certainly the right decision.

[Tomtom]

Good:
Deferred, instead of outright cutting or cancelling, interim dividend (on regulators guidance) and no extra capital will be raised at this point . Interestingly that was based on a projected scenario far more pessimistic than the one NAB are working on! Reaffirmed strong capital position compared to some rivals.

Bad:
Took another write down due to Mike Smiths pet project in Asia from which they continue to try to untangle themselves.

[peat]

I just commented on ANZ on the Bank Stocks thread

https://www.sharetrader.co.nz/showth...l=1#post811992

[macduffy]

[QUOTE]Bad:
Took another write down due to Mike Smiths pet project in Asia from which they continue to try to untangle themselves. [QUOTE]

I wouldn't be too hard on Mike Smith. ANZ were involved in Asia long before his time. Remember Grindlays Bank in India, a subsidiary of the ES and A Bank which ANZ merged with in 1969?

[Biscuit]

[QUOTE=macduffy;812001][QUOTE]Bad:
Took another write down due to Mike Smiths pet project in Asia from which they continue to try to untangle themselves.

I wouldn't be too hard on Mike Smith. ANZ were involved in Asia long before his time. Remember Grindlays Bank in India, a subsidiary of the ES and A Bank which ANZ merged with in 1969?

I always liked the Asia strategy, one of thereasons I originally bought in. Unfortunately it didn't bring in as much as just lending to Assies to buy houses.

[Cyclical]

lending to Assies

Seems harsh.

[Biscuit]

Seems harsh.

Ah, that is, Aussies

[Cyclical]

ANZ in for a further pounding on Monday? At Friday close, the NZ listing was at $17.14, down 78c or 4.35% for the day. The AU one ended down 6.8% at close, which by my calcs should see NZ at $16.66, however, that steep decline at the end of the AU trading looked a bit ominous...

Attachment 11463

[Grimy]

Maybe things are a bit tight. I notice they've started charging me a $5 monthly account fee as of the end of April.
It wasn't so long ago that BNZ dropped their monthly $5 charge. I wonder if that will be reintroduced?