ANZ Banks Profit

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Forums › Finance and wealth management › ANZ Banks Profit

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debo

307 posts

Ultimate Geek

#2118689 2-Nov-2018 17:30

JimmyH:

This is inaccurate and misleading. Before this is triggered and depositors take a haircut the bank's shareholders (=owners) first lose all of their investment. It's more accurate to say: "They can take higher risk investments. When they pay off then sweet profits for the shareholders. When they fail then the shareholders lose money and can be wiped out."

Good summary here.

So who owns the bank after the crisis (assuming there is something left to own)?

mattwnz

20107 posts

Uber Geek

#2118710 2-Nov-2018 18:47

gzt: I've been hearing the customer service for new mortgages is excellent. Maybe success in that area is not driven with targets and the like. Ie; good old customer service at work.

Things aren't so great if you want to save, as interest rates are still dropping. So if someone is saving for a mortgage on a house or for retirement etc, they aren't going to get much interest on that saving to grow it.

MichaelNZ

1354 posts

Uber Geek

Trusted

Integrity Tech Solutions

#2118737 2-Nov-2018 20:37

Lias:

See, I go out of my way to favour organisations that are NOT in it to make profits. E.g. Started doing some of my banking with The Co-Cooperative Bank(customer owned), medical insurance via Southern Cross (Not for profit) etc.

You will likely change your mind if you start a business (NZ banks are lousy at business banking) or marry a foreigner (if you are single - because NZ banks think foreigners are crooks and money launderers)

WFH Linux Systems and Networks Engineer in the Internet industry | Specialising in Mikrotik | APNIC member | Open to job offers

MichaelNZ

1354 posts

Uber Geek

Trusted

Integrity Tech Solutions

#2118740 2-Nov-2018 20:42

As banks go, I give ANZ some kudos.

They were prepared to give myself and my recently immigrated wife a joint account early on when other banks were putting up hurdles and outright rejecting her due to her foreigner status.

The local banks - of which Kiwibank is the worst - are so short sighted and stuck up, they are doing themselves out of a good source of new business.

WFH Linux Systems and Networks Engineer in the Internet industry | Specialising in Mikrotik | APNIC member | Open to job offers

Geektastic

17935 posts

Uber Geek

Trusted

Lifetime subscriber

#2118754 2-Nov-2018 21:35

MichaelNZ:

As banks go, I give ANZ some kudos.

They were prepared to give myself and my recently immigrated wife a joint account early on when other banks were putting up hurdles and outright rejecting her due to her foreigner status.

The local banks - of which Kiwibank is the worst - are so short sighted and stuck up, they are doing themselves out of a good source of new business.

Sorry to hear that. When we first moved here, we actually had no trouble opening accounts at what was then PSIS, even when we were on tourist visas and/or short work permits. I guess things have changed.

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