Maybe. Result at top end of guidance. Directors have boosted the dividend quite a bit. Does that reflect confidence that the profit will be maintained even with dairy in its current strife? I think the half year result in six months will be interesting as it may more fully reflect the fallen dairy prices and a more general cooling in conditions.
From my perspective a good result, really nice to have the dividend increase. To me that is an important consideration..
I was a little surprised by this:
" As at 30 June 2015, Heartland Bank had also lent approximately $32.8m through the Harmoney platform"
Had not expected HNZ to be using the Harmoney platform to this extent. Not quite sure how to think about this.
So trying to figure out whether this is good or bad and how material.
I see this from the Harmony site.
"HARMONEY PASSES $50 MILLION
Peer-to-peer lender Harmoney says it passed a significant milestone this month with more than $50 million having now been lent via its online platform with more than 1.4 million transactions facilitated to date. Harmoney says this makes it the fastest growing peer-to-peer lending marketplace in Australasia" Date 28 May 2015 Interest.co.nz
So this is reasonably recent. That means a huge proportion of Harmoney's lending is funded by HNZ. So Harmoney is really just a branch of HNZ. I can't recall what % of Harmoney that HNZ own. Well, it will be at higher interest rates....but how secure ?
So trying to figure out whether this is good or bad and how material.
I see this from the Harmony site.
"HARMONEY PASSES $50 MILLION
Peer-to-peer lender Harmoney says it passed a significant milestone this month with more than $50 million having now been lent via its online platform with more than 1.4 million transactions facilitated to date. Harmoney says this makes it the fastest growing peer-to-peer lending marketplace in Australasia" Date 28 May 2015 Interest.co.nz
So this is reasonably recent. That means a huge proportion of Harmoney's lending is funded by HNZ. So Harmoney is really just a branch of HNZ. I can't recall what % of Harmoney that HNZ own. Well, it will be at higher interest rates....but how secure ?
Harmoney not really P2P is it?
Comm Commission looking at Harmoney's fee structure as well. If they factored HNZ involvement in it could be interesting.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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