BANKS

[Waltzing]

sell WBC and if you think ANZ margins are going to be hit... ANZ might be a hold and accumulate if it bangs down to 23 again ..

ASB margain took a hit... DIC SNOP might have some big models...

the problems for banks is that they are old technology ...

[BlackPeter]

sell WBC and if you think ANZ margins are going to be hit... ANZ might be a hold and accumulate if it bangs down to 23 again ..

ASB margain took a hit... DIC SNOP might have some big models...

the problems for banks is that they are old technology ...

the problems for banks is that they are old technology

Are they? and if yes, where is the problem?

Humans are much older technology - and banks solve some of their problems.

I wouldn't see banking as growth industry, but as any other service industry humans need, banking will do just fine. Same as foodproducers and processors (like farmers, bakers, butchers, cooks, ...), transport providers or e.g entertainers.

Sure - the way the service is provided might change, but the need for safe money storage and transfer, for loans and savings will stay around.

[Waltzing]

wbc ..

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/WBC/426417/412828.pdf

Anz annoucement ..  capital notes.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/ANZ/426185/412542.pdf

[Waltzing]

There is a chance banks will upgrade their technology stacks provide a major upgrade technology service API's for customers and a modern secure service.
 
At the present there isnt even a PROXY id transaction standard...

The RBNZ doesnt know what that is as it busy with trees...

[kiwi2007]

Just as an aside, UK domestic banks are selling at tiny P/Es compared to ours (well not really ours of course but the ones our cussies let us keep our cash in) . National Westminster (NWB) for instance on a 4.7 p/e . doing quite well and paying 6.75%.
No one wants to buy UK shares , not even their own institutions who have reduced UK share exposure from 50% some years ago to less then 5%. The $2 shop of the world stock markets.

[kiwi2007]

WBC quarterly results gone down well - up 5% on big volume. ANZ down though.

[Waltzing]

topping out and a period of forming a new base ?

might take a few years for the new band to work in....

[Waltzing]

Is the T1 capital ratio imposed on banks operating in NZ now going to come back to haunt the RBNZ?

https://www.nzherald.co.nz/business/how-the-rbnz-is-losing-the-global-inflation-race-markets-with-madison/6Y6SXBDHUNAZFLQKY4M52QVAKM/

[Waltzing]

ANZ appears to have topped out on the annoucement last week ...  suncorp.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/ANZ/426502/412960.pdf

[Waltzing]

Will we see if the next QTR GDP is negative a panic at the RBNZ to cut ? how many QTR of recession have there been lately .. lost count... and they declare them later on ...  like we thought we have some green growth shoots...  but no ... sorry ...

https://www.stuff.co.nz/money/350196029/we-got-one-totally-wrong-anz-changes-view-rate-rise

and what is the total debt anyway ... what a send off ...

https://www.nzherald.co.nz/nz/politics/labours-worst-week-highlights-its-existential-crisis-political-round-up/X5ZFOQ53UJAZXPWZVKJ4ETBTVY/

Really over 24 months before rates come down below 4? 

2 rate cuts 25 by november ... and what 25 there after?

lets see what actually happens..

[Waltzing]

AUS GDP  steady and Aussie dollar softer but not by much...

good news for AUS retail and the banks ...

Its not a TR unlike NZ...

which might be said to be a self inflicted TKO...for the KIWI that is not the KANGA....

Time to join the AUS dollar and dumo the kiwi and start the merge ...

yup time for the Kiwi to jumo in the Kanga pouch and bound along together...

https://www.youtube.com/watch?v=K9_b9X2EA3E

[Waltzing]

Bit of a nice bounce today for ANZ...

 https://www.nzx.com/companies/ANZ/announcements

[Ferg]

Smartshares ETF 'ASF' follows the Australian financial institutions.  SP reached an all time high today:
https://nz.finance.yahoo.com/quote/ASF.NZ?.tsrc=fin-srch

[Waltzing]

Strong performance from the banks this weeks. ANy bounces down to the mid 20's could be a good point to reenter and buy some MORE!!!

ANZ has put in a good few months for holders and the scene is now set for suncorp to shine ....

[Waltzing]

Thre old technology platforms used by banks surely needs a  renewal. The lack of digital transaction ID and Cypher standards will continue to make the banking systems not fit for purpose.

Yes an ID tranasaction and cypher standard is difficult but work on this should have started decades ago... about 30 years ago at least.

https://www.nzherald.co.nz/nz/nz-first-candidate-david-wilson-loses-200k-in-scam-bank-confirms-mule-account-legitimate-in-phone-recording/LDU4PNNNBREPPC5PRGED4ACSDI/

Notice that your OMC accounts at Jardens have not identification transaction ID;s either. You cant do an automatic or manual cross reference match between your buy , sell and your caah deposits and receipts.

In other words the OMC accounts are negligent.

Your living in an economy where bankers, laywers, accountants, Politicians and the reserve bank have left you exposed at many points to fraud.

You cant buy yourself a secure bank account instead your exposed.