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ANZ, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
nipper
post Posted: May 6 2021, 09:08 AM
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In Reply To: early birds's post @ May 6 2021, 08:43 AM

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Unlike Westpac which is reviewing its NZ presence, the ANZ is not looking at departing that market.

I guess it would be a hard marketing sell to rebrand just as A , so it looks like the status quo should continue.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
early birds
post Posted: May 6 2021, 08:43 AM
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In Reply To: nipper's post @ May 5 2021, 08:31 AM

For the ANZ it looks like a case of ‘sell on the news’ and take profits after the shares dipped yesterday in the wake of a solid recovery in interim earnings and a higher dividend.

The shares eased 3.2% to $27.90, down more than $1.20 from the most recent high on Monday of $29.10.

Up to Wednesday ANZ shares had jumped 25%, continuing the surge that really started last November.

With a cautiously upbeat outlook from CEO, Shayne Elliott, a rise in the share price might have been in prospect, especially after local investors shrugged off Wall Street wobbles on Tuesday, especially in tech stocks.

What made the weakness even odder was the clear outperformance by the bank in the six months to March 31, as it topped market forecasts for profits and the size of the dividend.

What did worry some investors was the size of the write-back to the P&L line of $491 million of the $1.7 billion in provisions from the first half of 2020.

ANZ reported a statutory profit after tax of $2.943 million and cash earnings from continuing operations of $2.990 million.

This was up 45% and 28%, respectively, on the second half of FY 2020 (first half comparisons are skewed by the huge one off provisions in the first half of 2020).

Boosting ANZ’s result was that write back (or a net credit provision release) of $491 million for the half. This is up from a net release of $150 million during the first quarter.

Interim dividend of 70 cents a share was above the 60 cents a share forecast from most analysts.

CEO Shayne Elliott, advised that all sides of the business performed well, which was complemented by cost reductions.

In a statement he said the outlook was still not clear:

“There is still significant uncertainty. You only need to look at how the pandemic is playing out overseas, as well as recent lock-downs, to realise how quickly the situation can escalate.”

“ANZ is in a strong position both financially and operationally. We are well capitalised and our disciplined approach to costs over many years has us well placed to invest in opportunities to grow our business in targeted segments.

“The work to digitise core processes and platforms continues at pace and this will be more visible to customers towards the end of the year.

He said: “Following the trends of the first quarter, all parts of our business performed well. Costs were down 2% and we also increased investment in new digital capability that will provide ongoing productivity improvements and better customer outcomes.”

“Australia Retail & Commercial had another good half, becoming the third largest home lender in the market. Deposits performed well, with retail and small business customers behaving prudently by building solid savings and offset balances through the half,” he added.

The fall in institutional bank revenues was in line with expectations as Mr Elliott explained:

“Lower revenues in our Institutional business were largely expected due to the impact of falling interest rates as well as a normalisation of Markets revenue after an exceptionally strong 2020.

“Our disciplined focus on credit management has been a positive with our largest customers going into the pandemic from a position of strength and adapting fast to the rapidly changing environment.”

And the New Zealand business performed strongly.

“New Zealand continued its recent strong performance with record lending growth combined with disciplined cost management. This is a well-run business that is an important part of our overall portfolio and is well-placed to manage increased regulatory capital demands.”

Unlike Westpac which is reviewing its NZ presence, the ANZ is not looking at departing that market.

…………

As opposed to the ANZ and Westpac, the two other big banks were in favour yesterday.

Shares in Commonwealth Bank closed at a six-year peak of $92.72, the highest they have been since April 2015.

National Australia Bank shares closed at $27.37 after touching an intraday high of $27.84, the highest level seen since November 2019. NAB reports first half results Thursday morning.

===========================

from our own sharecafe
good old "sell on news" always work!! lmaosmiley.gif

 
nipper
post Posted: May 5 2021, 08:31 AM
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In Reply To: nipper's post @ Oct 29 2020, 01:52 PM

ANZ has reported a 126 per cent increase in cash profit to $2.9 billion and lifted up the dividend to 70¢ a share on the back of recovery in business activity and a resurgent property market.

The improving economic outlook has allowed the bank to release a net $491 million in credit provisions underpinning the result and supporting the dividend.

Improvements in the bank’s systems and processes have seen it take the mantle of the third largest home lender over the half.





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Oct 29 2020, 01:52 PM
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ANZ beat market expectations with a rebound in cash earnings in the second half, helped by lower provisions for bad debts due to the pandemic that offset declining interest margins. Cash profit for the second half was 66% higher than the first half at A$2.34 billion, boosted by provision charges that were over a third lower than in the first six months of the year.

The fourth largest lender said it would lower dividends to put more money aside for potential losses due to the economic impact of COVID19; it declared a final dividend of 35 Australian cents per share, some 49% of statutory earnings, in line with a directive by regulators asking that payouts be less than half the year's profit.

The cautiously upbeat attitude came with little earnings guidance for the year other than an expectation that near zero interest rates would lower net interest margins (NIM), a key metric of profitability, by a further 3 basis points. While also lower than the most optimistic expectations for provision charges, the second half A$1 billion charge moved its loss provision balance to a record A$5 billion.
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Despite the environment, we feel in a really strong position to deal with this, Chief Executive Officer Shayne Elliott said in an earnings call. Things are going to get a bit tougher but that is OK. We've got a really strong balance sheet (and) really strong credit provisioning for when and if things go wrong.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
nipper
post Posted: Sep 12 2020, 08:02 PM
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ANZ .. wealth management

As James Dunlop, ANZ Private head of investments and wealth, tells it, the bank selling of its insurance arm to Zurich and its advice arm to IOOF, was one of the best things that could have happened.

Freed from the shackles of vertical integration, the private bank and high net worth advice arm of ANZ has been able to pursue a best of breed model, installing the product agnostic Netwealth as a default platform (which costs just 15 basis points per annum) and concentrate on delivering for the client.
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It creates a good environment for people to work in, they are not the distribution business they were historically, Dunlop adds.
Costs at ANZ Private start at $6000 for statement of advice and average about $12,000 per annum for ongoing advice. The business has about 6000 clients and 350 staff including 100 bankers and 35 advisers. It also draws on the expertise of 16 staff from the chief investment office within the bank.
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If you are spending 75 per cent of your time talking to clients, you have to accept you are not the best stockpicker or fund selector, so having a robust chief investment office is really important, Dunlop says.

ANZ Private targets clients with investments and debt of $3 million. All members of the adviser team have completed the FASEA exams or will soon. Dunlop agrees that the wholesale or sophisticated investor classification reduces the compliance burden by as much as 75 per cent but says the bank doesn't have a preference for one over the other. We are of the view that just because you have a lot of money does not make you wholesale, he adds.
The division itself is not much of a rainmaker for the business either, Dunlop concedes. While describing what ANZ Private does for the bank customers as a core offering, its contribution to the bank bottom line is almost negligible, which should give clients some comfort they are not lining someone else's pockets. Delivery of advice is not a profitable section to be in; we are an ancillary service that probably breaks even, it is certainly not the game in town if you are looking to be making a huge amount of money, Dunlop says.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
plastic
post Posted: Mar 10 2020, 11:11 AM
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In Reply To: plastic's post @ Mar 9 2020, 06:37 PM

Does anyone think those bail in laws might be used if any of the banks declare themselves insolvent?

All those get rich quick property speculators might have to pay the piper in the end if they have their profits in the bank after getting margin called on this latest round of market turmoil.




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What did Uncle Mel do to us?
 


plastic
post Posted: Mar 9 2020, 06:37 PM
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Today's developments and those of the last couple of weeks must be doing some serious damage to those capital leverage ratios. Especially when they are in need of fresh capital as they are in NZ. One can only wonder what comes next.



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What did Uncle Mel do to us?
 
plastic
post Posted: Feb 18 2020, 03:44 PM
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Could've been Australia. Could've been the UK. Or Italy....according to Trump. But he doesn't mention NZ even though NZ is in the Five Eyes and JK counts Obama as a good mate on and off the golf course. Six degrees of seperation. Hey, John. Need a favour. GS is putting the acid on for something on Trump. Can you just.....
It's well known JK was donkey deep in the spy agencies.

https://twitter.com/45HarisonHarold/status/...591987369709568
Guess we will find out soon enough. Q says its game over.

https://qmap.pub/




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What did Uncle Mel do to us?
 
plastic
post Posted: Feb 15 2020, 01:28 PM
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John Key when PM of NZ played it hard and fast with the spy agencies while being very good mates with Obama. Wonder if he is going to get caught up in all of this. Including the outsourcing of intelligence gathering through Five Eyes. I doubt that he will. More likely someone else gets thrown under the bus.

https://twitter.com/axiomreport/status/1228506448893603841





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What did Uncle Mel do to us?
 
plastic
post Posted: Dec 5 2019, 11:09 AM
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Margin call by the NZ Reserve Bank.



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What did Uncle Mel do to us?
 
 


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