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ANZ, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
nipper
post Posted: Oct 31 2019, 07:29 AM
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ANZ Banking Group chief Shayne Elliott said its retail and commercial bank had had a "challenging" year, with increased remediation charges, intense competition and record low interest rates curtailing earnings, as ANZ reported a cash profit for the full year of $6.47 billion for its continuing operations, in-line with expectations and flat on the previous period.

But cash profit in the Australian retail and commercial operations was down 10 per cent for the year to $3.6 billion, in what Mr Elliott described as a "messy year". After ANZ hit the brakes too hard on lending during the royal commission, he said there had been a steady recovery in home loan applications in recent months, although this was yet to flow through to the financial results.

He said ANZ was "getting our mojo back" and expected the mortgage momentum to be maintained into 2020, although the results showed an up-tick in mortgage arrears. "We’ve got some really competitive product offerings, we’re seeing our market share and volume increase again," he said.

ANZ kept its second half dividend flat at 80 cents per share - but reduced the franking level to 70 per cent, which it justified on its wealth divestments and the "changing operating environment". "Our decision to reduce franking to a new base reflects the changed shape of our business as well as recognising how important the dividend, franking and predictability is to shareholders,” Mr Elliott said.




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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: Oct 8 2019, 09:20 AM
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Bail in inflection point just got $600m closer.



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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 12 2019, 12:47 PM
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Chinese Banks No Longer Trust One Another As Repo Rates Skyrocket

Headline from Zerohedge.

How much longer before we get the contagion effect taking hold?




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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 10 2019, 02:32 AM
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It's not just Deutsch Bank. And as interest rates get closer and closer to zero, the incentive for depositors to take their money elsewhere rises accordingly. Leaving banks capital hungry and unable to meet their statutory requirements. Margin call in other words.

If ANZ has exposure to China and we see the flight of capital back to China then its a double whammy. The good news is the money has to go somewhere. So there will be a mother or all asset booms in some asset class somewhere. Stocks and bonds most likely.

https://www.zerohedge.com/news/2019-08-09/b...ts-nationalized

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Bailout #3: Chinese Bank With $200 Billion In Assets Is Nationalized




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What did Uncle Mel do to us?
 
plastic
post Posted: Jul 17 2019, 11:18 AM
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Coming to a bank Down Under at some point.
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Bank Run: Deutsche Bank Clients Are Pulling $1 Billion A Day




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What did Uncle Mel do to us?
 
plastic
post Posted: Jul 9 2019, 06:58 PM
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A headline on the Q conspiracy thread. I got a feeling John's Teflon is about to rub off and we will see just what the fibre of his fabric actually is.
He was pretty pal-ly with Obama. Hosted Hillary. Then hosted Obama. All secret squirrel stuff with someone else footing the bill but attention and headlines going to him. Slept with Chinese money. Slagged off Trump when he won. And before. Then fires the CEO of ANZ lest there be some blow back on him.
Plenty of good reading in the link. Including many references to Five Eyes. Guess who was in charge of that at the time!
We live in interesting times.

https://qmap.pub/

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What did Uncle Mel do to us?
 

Featured Stock Stories





plastic
post Posted: Jul 9 2019, 11:48 AM
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Making the headlines. Again. For all the wrong reasons. Again.
https://www.reuters.com/article/us-australi...a-idUSKCN1U404B




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What did Uncle Mel do to us?

Said 'Thanks' for this post: Pendragon  
 
plastic
post Posted: Jul 1 2019, 07:33 AM
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The Reserve Bank of NZ is set to cut interest rates again tomorrow. At this rate, the borrow rate of the banks will be higher than the mortgage lend rate if that is still tethered to Reserve Bank rate.

Everything approaching snap point if you ask me.

ANZ could become our Fannie Mae/Freddie Mac.




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What did Uncle Mel do to us?
 
plastic
post Posted: Jun 25 2019, 10:05 AM
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Closer to home, how many other farmers will they owe this to? I am sure there will be more than one. I am just as sure, the liability won't be contained to just NZ either. There must be an A component as well.

This must those WoMD Warren Buffet talked about when he was talking about derivatives.
http://www.sharechat.co.nz/article/960704b...ay+25+June+2019

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The Court of Appeal has overturned a ruling that ANZ Bank New Zealand doesn't have to compensate a Taranaki farming family for the way it had represented the risk attached to interest rate swaps.





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What did Uncle Mel do to us?
 
plastic
post Posted: Jun 25 2019, 07:52 AM
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More from Zero Hedge. I wonder how much exposure to China ANZ has.

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China's banking stress has taken a turn for the worse, and on Monday, China's overnight repurchase rate dropped to its lowest level in nearly 10 years, after the central bank’s repeated liquidity injections to ease credit concerns in small-to-medium banks: The rate fell as much as 11 basis points to 0.9861% on Monday, before being fixed at exactly 1.000%.




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What did Uncle Mel do to us?
 
 


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