Bank stocks

[thedrunkfish]

Exactly ! Lets not forget this is really National Australia bank and you'd be forgiven for thinking they really do not care about customer service.

Who even owns a cheque book anymore!

[peat]

Who even owns a cheque book anymore!

obviously one of Beagles clients.

I made a comment at a branch recently and the teller said there are still lots of cheques going through, though even NZ Post is going to reject them soon.


So ANZ has made a bout 2 B of provisions related to Covid19 factors , though almost half of that was related to writedowns on assoc subsidiaries. No dividend for now but they will reconsider and I note the CFO comments at the end

"We’ve also looked at a range of more severe stress scenarios; including a more extreme scenario that might arise from an economy-wide shut down for a full 6 months, and a 24% fall in GDP.

This would take us further into management and regulatory capital buffers, and would therefore take more time for us to rebuild to unquestionably strong. While this scenario is becoming increasingly unlikely given the way that Australia and New Zealand have managed the COVID 19 crisis it’s these uncertainties that have influenced our announcement to defer the decision on the dividend"

Like many they're just hanging onto it for good measure.

[Beagle]

Who even owns a cheque book anymore!

Older people who don't want to do internet banking. They are the generation that the banks don't seem to care about and are happy to expect them to stand in a queue for hours even though many have blood circulation issues and really struggle to stand for hours on end. Its an absolute disgrace.

[macduffy]

Older people who don't want to do internet banking. They are the generation that the banks don't seem to care about and are happy to expect them to stand in a queue for hours even though many have blood circulation issues and really struggle to stand for hours on end. Its an absolute disgrace.

Easy there, Beagle! We're still at level 3 and most businesses are closed or on restricted hours, as are the banks. In "normal" times, cheques are still accepted at branches, except for Kiwibank?

[Tomtom]

I made a comment at a branch recently and the teller said there are still lots of cheques going through, though even NZ Post is going to reject them soon.

Most of the cheques I get are from overseas or business related. I suppose if you live or work in an area without a mobile signal...

[Cyclical]

Older people who don't want to do internet banking.

Surely Beagle, that time you've wasted on this and the associated frustration is enough to push you over the edge and...start using Internet banking? Covid19 is going to be a catalyst for change for a lot of businesses and people, and this would be one example. You're not that old and you're doggedly proficient with a keyboard. But yeah, I hate it when I need to talk to the bank these days. Kiwibank for me...they used to be very good at answering the phone in a timely manner, but in the last year or two it's been terrible.

[percy]

All he was trying to do was bank a cheque which was under $10,000,but the ATM would not do the business as it was over $2,000.
Bank has wasted his time.
Bank had no good reason why the ATM would not accept the cheque.Cheque would have the drawer's details, and Beagle would have had to put it into his account.
Traceability was all there.

[Tomtom]

Government to lend money directly to SMEs. What could possibly go wrong with government making credit decisions and managing loans to private enterprises?

[Cyclical]

Government to lend money directly to SMEs. What could possibly go wrong with government making credit decisions and managing loans to private enterprises?

The link don't appear to work there Tomtom.

[Tomtom]

The link don't appear to work there Tomtom.

Apologies, this article contains a link to the legislation.