Quote Originally Posted by dabsman View Post
Looking forward to share buybacks with the massive reserves the banks currently have. Prefer a buyback to a dividend with no access to franking credits
Banks should always operate with "massive reserves", it's their best bulwark against the risk of their business - borrowing short and lending long. Incidentally, the restriction on NZ banks paying dividends, in respect of the Aust bank subsidiaries, affected their NZD quasi-capital issues. The Aust parents continued to pay divs, albeit at reduced rates, on ordinary shares. Not so for Heartland etc. of course.