DOCSLIB.ORG

Company Fact Sheet

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Company Fact Sheet Heartland New Zealand Limited Company Fact Sheet ABOUT HEARTLAND Heartland New Zealand Limited (Heartland) products across the household, business and services group. Heartland’s focus is now on is a holding company for a specialist financial rural sectors, establishing a leading position continuing to grow quality sustainable earnings services group operating in New Zealand and in its target markets. It has a diversified asset and improving return on equity, which will be Australia. Its strategy is to seek opportunities base, balanced geographic footprint and a achieved through a combination of: where it can provide innovative, market-leading widespread depositor base. • Leveraging its position and extending its products in niche areas within the household, • Heartland Seniors Finance, the largest non- reach in existing core markets, including business and rural sectors. Execution of this bank provider of reverse mortgages in the through investment in technology to enhance strategy is achieved through development Australian market, which Heartland acquired distribution to specific market segments; of specialist products targeting customers in April 2014. • Continuing the development of specialist whose requirements are not being met by the • MARAC Insurance Limited which offers a products; and mainstream banks. range of insurance products. • Pursuing acquisition opportunities that offer Heartland’s principal businesses are: Since its listing on the NZX Main Board in a good strategic fit, competitive advantage, • Heartland Bank Limited (Heartland Bank) February 2011, Heartland has successfully potential for growth and are value accretive. which was registered as a bank in December progressed through several strategic phases, 2012. Heartland Bank offers specialist establishing itself as a specialist financial KEY FINANCIALS 12 months 12 months 12 months 12 months to June 2012 (NZ$m) to June 2013 (NZ$m) to June 2014 (NZ$m) to June 2015 (NZ$m) Net interest income 83.6 95.5 109.1 134.4 Net other income 11.8 11.8 13.5 10.5 Net operating income1 95.4 107.3 122.6 144.9 Expenses 65.6 70.3 64.7 68.4 Profit before impairments and tax 29.8 37.0 57.9 76.5 Impaired asset expense 5.6 22.5 5.9 12.1 Decrease in fair value of investment properties 3.9 5.1 1.2 - Net profit before tax 20.3 9.4 50.8 64.4 Tax (3.3) 2.5 14.8 16.2 Net profit after tax (reported) 23.6 6.9 36.0 48.2 Net profit after tax (adjusted2) 14.0 24.4 36.0 48.2 Total Net Receivables3 2,133.8 2,068.7 2,632.3 2,886.6 Cost to Income 69% 66% 53% 47% Return on Equity (adjusted2) 4.2% 6.5% 9.0% 10.4% Earnings per Share (adjusted2) 4c 6c 9c 10c 1 Net operating income includes share of MARAC Insurance profit 2 2012 adjusted for $9.6m one-off tax benefits; 2013 added back change in strategy provisions ($18.0m), management fee ($6.1m), management expenses ($0.2m) 3 Total net receivables include consumer, residential mortgages, property (including investment property), plant & equipment, business, invoice finance, livestock, other rural and reverse mortgages. Other asset categories (e.g. cash, investments etc.) are not included Heartland New Zealand Limited I Company Fact Sheet I September 2015 1 HEARTLAND’S STRATEGIC TRANSITION Strategic changes to Heartland’s balance sheet composition have repositioned the asset mix to successfully align with the strategy of occupying leading positions in niche markets, resulting in increased earnings per share and return on equity. Execution of this strategy has also resulted in Heartland Bank achieving a stronger net interest margin than the Australian and New Zealand-owned banks operating in New Zealand. 30 June 2011 30 June 2015 Interest Margins as at September 2014 6.0% Non-core Non-core property2 property2 NZ$187.1m NZ$27.0m 5.0% Bank overlap1 Bank overlap1 NZ$524.7m NZ$513.0m 4.0% 3.0% 2.0% 1.0% Specialised & low Specialised & low contestability contestability NZ$1,030.0m NZ$2,346.5m 0% |||||||||| BNZ Total Net Total Net Bank 3 3 TSB Bank Kiwibank SBS Bank ASB Bank Receivables Receivables ANZ Bank Westpac NZ Westpac NZ$1.7b NZ$2.9b Co-Operative Heartland Bank 1 Bank overlap assumed to be residential mortgages and 50% of business and rural 2 Includes investments properties 3 Total net receivables includes consumer, residential mortgages, property (including investment property), Source: KPMG Financial Institutions Performance Summary - Review of 2014 plant & equipment, business, invoice finance, other rural and reverse mortgages. Other asset categories (e.g. cash, investments etc.) are not included. DIVISIONAL OVERVIEW Heartland’s business focuses on three key sectors: household, business and rural. Within these sectors, Heartland’s strategy is to focus on niche market segments where it can be the leading provider of specialist products. HOUSEHOLD BUSINESS RURAL Residential Consumer Seniors Finance Mortgages Strategy Continued growth Grow existing book Continued reduction Expand product range Target sub sectors of existing motor through increased of portfolio to align for small-to-medium within the agri- vehicle finance market awareness, with strategy to focus sized businesses business financing book through direct advertising and on niche product to further support market that are and intermediated strengthening of categories business growth and under-banked by the channels distribution network short term working mainstream banks Development of Pursuing new capital needs, specialist products, product development including through including through opportunities for development of new development of new aged care sector in technology technology Australia Market leading Specialist provider of Leading provider of Specialist products Specialist products positions and intermediated motor reverse mortgages in include invoice include livestock specialist products vehicle finance New Zealand finance, asset finance, finance, farm Specialist provider online business call transition loan of reverse mortgages account in Australia Gross receivables as NZ$749m NZ$340m/AU$424m NZ$79m NZ$806m NZ$489m at 30 June 2015 Average loan size as NZ$15k NZ$92k/AU$111k NZ$51k NZ$112k NZ$200k at 30 June 2015 Heartland New Zealand Limited I Company Fact Sheet I September 2015 2 SHARE PRICE CHART AND RELATIVE PERFORMANCE TO NZ50G In the three years to 30 June 2015, Heartland’s share price has appreciated 121%. Total shareholder COMPANY return (TSR) (share price appreciation and dividends received) has been 168% over the same period. INFORMATION [Note: The NZ50G calculates TSR on the basis that dividends are reinvested.] Heartland New Zealand Limited Three Year Relative Performance 35 Teed Street 300 Newmarket HNZ NZ50G 275 Auckland 1023 New Zealand 250 225 PO Box 9919 Newmarket 200 Auckland 1149 175 New Zealand Index Value Index 150 Telephone: +64 9 927 9025 125 Email: [email protected] 100 75 Website: www.heartland.co.nz Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 DIVIDENDS 5 4.5 REGISTRY 4 INFORMATION 3.5 3 Link Market Services 2.5 Level 7, Zurich House Cents 2 21 Queen Street 1.5 Auckland 1010 1 New Zealand 0.5 0 Telephone: +64 9 375 5998 2013 2014 2015 Special Interim Final Email: [email protected] Heartland will determine dividends (both interim and final) based on its net profit after tax, subject Website: www.linkmarketservices.com to maintaining a prudent level of capital for its needs. Heartland’s capital needs will vary from time to time, depending on a range of factors (including regulatory and credit rating requirements, general economic conditions, current and expected growth and the mix of business). A key objective is to ensure an appropriate balance between maximising shareholder returns, and protecting the interests of depositors through prudent capital management. RESEARCH COVERAGE Company Analyst Email Deutsche Craigs Dennis Lee [email protected] GOVERNANCE First NZ Capital Greg Main [email protected] BOARD OF DIRECTORS Forsyth Barr James Bascand [email protected] Geoffrey Ricketts Independent Chairman, Chair Governance, SHARE INFORMATION Remuneration & Capital Committee NZX code HNZ Jeffrey Greenslade First listed on NZX 1 February 2011 Managing Director Share price at 30/06/15 $1.17 Graham Kennedy Shares on issue at 30/06/15 469,890,280 Independent Director, Chair Audit Market capitalisation at 30/06/15 $549,771,628 & Risk Committee Average monthly trading for 12 months to 30/06/15 17.7 million shares Christopher Mace Share price high/low for 12 months to 30/06/15 $0.94/$1.41 Independent Director FY15 gross dividend yield* 8.9% Jane Taylor Financial year end 30 June Independent Director NZX industry sector Services / Finance & Other Services Indices NZX 50, NZX 50 Portfolio, NZX MidCap, NZX All Gregory Tomlinson Non-Independent Director * Includes full imputation credits at 30 June share price of $1.17 on dividends relating to FY15 year All currency is NZ$ unless otherwise indicated Heartland New Zealand Limited I Company Fact Sheet I September 2015 3 HISTORY January 2011: Heartland draws together a LEADERSHIP series of savings and loan businesses with roots EXECUTIVE TEAM that date back to 1875: CBS Canterbury, Southern Cross and MARAC to form Heartland Building Jeff Greenslade Society. Managing Director • CBS Canterbury - delivering banking services Jeff has over 20 years’ to the Household, Business and Rural sectors experience as a senior within the Canturbury region. banking executive • Southern Cross – providing financial services and is responsible for customers throughout the North Island. for the strategy and operational delivery • MARAC – supporting the growth of small-to- of Heartland. Jeff medium sized New Zealand businesses with joined the Heartland a range of finance, investment and insurance group in 2009 as solutions. Chief Executive Officer of MARAC Finance Limited (MARAC), one of Heartland Bank’s predecessor entities.
Load more

Recommended publications
  • SAP Crystal Reports
    Online Banking Award We endeavour to include the majority of product providers in the market and to compare the product features most relevant to consumers in our ratings. This is not always possible and it may be that not every product in the market is included in the rating nor every feature compared that is relevant to you. Banking - Desktop Ability to Pre-Population of Activate Bank Statement Set Goal Temporary Lock/Hold Transfer from Company Schedule Future Data for New Credit/Debit Card Available Online Savings on Credit/Debit Cards Home Screen Payments Product Application ANZ Bank NZ ✘ ✔ ✘ ✘ ✔ ✔ ✔ ASB Bank ✔ ✔ ✘ ✘ ✘ ✔ ✔ Bank of New Zealand ✘ ✔ ✔ ✘ ✔ ✔ ✔ Co -Operative Bank ✔ ✘ ✘ ✔ ✘ ✔ ✔ Heartland Bank ✘ ✔ ✘ ✘ ✘ ✔ ✘ HSBC ✘ ✔ ✘ ✘ ✘ ✔ ✘ Kiwibank ✔ ✔ ✔ ✘ ✘ ✔ ✔ SBS Bank ✘ ✔ ✘ ✘ ✘ ✔ ✘ TSB Bank ✔ ✔ ✘ ✘ ✘ ✔ ✔ Westpac ✔ ✔ ✘ ✔ ✔ ✔ ✔ Report Date: May, 2016. (All information is correct as at April, 2016) Online Banking Award 2016 - Page 1 Online Banking Award We endeavour to include the majority of product providers in the market and to compare the product features most relevant to consumers in our ratings. This is not always possible and it may be that not every product in the market is included in the rating nor every feature compared that is relevant to you. Banking - Smartphone Ability to Pre-Population of Activate Bank Statement Set Goal Temporary Lock/Hold Transfer from Company Schedule Future Data for New Credit/Debit Card Available Online Savings on Credit/Debit Cards Home Screen Payments Product Application ANZ Bank NZ ✘ ✔ ✘ ✘ ✔ ✔ ✔ ASB Bank ✔ ✘ ✘ ✔ ✘ ✔ ✔ Bank of New Zealand ✘ ✘ ✔ ✘ ✔ ✔ ✘ Co -Operative Bank ✔ ✘ ✘ ✔ ✘ ✔ ✔ Heartland Bank ✘ ✘ ✘ ✘ ✘ ✘ ✘ HSBC ✘ ✘ ✘ ✘ ✘ ✘ ✘ Kiwibank ✘ ✘ ✔ ✘ ✘ ✔ ✘ SBS Bank ✘ ✔ ✘ ✘ ✘ ✔ ✘ TSB Bank ✘ ✘ ✘ ✘ ✘ ✔ ✘ Westpac ✔ ✘ ✘ ✔ ✔ ✔ ✔ Report Date: May, 2016. (All information is correct as at April, 2016) Online Banking Award 2016 - Page 2 Online Banking Award We endeavour to include the majority of product providers in the market and to compare the product features most relevant to consumers in our ratings.
    [Show full text]
  • Matthew Dawe Mortgages Limited (727992) ������������������ ������������������ �������������������
    . Hello. Matthew Dawe Matthew Dawe | MatthewDawe.com Matthew Dawe Mortgages Limited (727992) ������������������ ������������������ ������������������� ������������������������������������������������� ���������������������������������������� ������������������� Our promise. Five things... FIND THE RIGHT DEAL FOR YOU • We’ll compare 20+ banks and lenders • No fees* for you, I’m paid by the lender you choose • The power to negotiate discounts SAVE YOU TIME • We'll compare the market for you • Expert research to find you the right loan • Do all the legwork for your application KEEP IT SIMPLE • No jargon! Everything explained simply • I work for you, not the banks or shareholders • Make moving in and out a breeze HELP YOU GET COVERED • Connect you with home and contents insurance • Life insurance and income protection for unexpected situations HELP YOU GROW • Put a plan in place for the future • Achieve your goals today • Provide solutions for all your needs *There may be times when a financial adviser charges a fee You’re in good hands. WE WORK IN YOUR WE’RE NOT A BANK, BEST INTERESTS NOR ARE WE OWNED BY ONE We are your personal Proudly owner operated bank manager WE ARE A MEMBER OF THE LARGEST FINANCIAL GROUP IN NEW ZEALAND #ADVISERSWORKFORYOU With over 1200 advisers across the country Access to over 20+ banks and lenders all in one place. Correct as of April 2020 How we will work together. FIRST CHAT 1 We get to know you, and ensure you know what we do and how we do it. We’ll talk about what you are trying to do, your goals and ambitions, and whether we can help you. UNDERSTAND YOUR SITUATION 2 We’ll gather information from you including family details, income and assets and other financial information.
    [Show full text]
  • New Zealand Business Number Bill 18 June 2015
    Submission to the Commerce Select Committee on the New Zealand Business Number Bill 18 June 2015 NEW ZEALAND BANKERS ASSOCIATION Level 15, 80 The Terrace, PO Box 3043, Wellington 6140, New Zealand TELEPHONE +64 4 802 3358 FACSIMILE +64 4 473 1698 EMAIL [email protected] WEB www.nzba.org.nz Submission by the New Zealand Bankers’ Association to the Commerce Select Committee on the New Zealand Business Number Bill About NZBA 1. NZBA works on behalf of the New Zealand banking industry in conjunction with its member banks. NZBA develops and promotes policy outcomes which contribute to a strong and stable banking system that benefits New Zealanders and the New Zealand economy. 2. The following fifteen registered banks in New Zealand are members of NZBA: ANZ Bank New Zealand Limited ASB Bank Limited Bank of China (NZ) Limited Bank of New Zealand Bank of Tokyo-Mitsubishi, UFJ Citibank, N.A. The Co-operative Bank Limited Heartland Bank Limited The Hongkong and Shanghai Banking Corporation Limited JPMorgan Chase Bank, N.A. Kiwibank Limited Rabobank New Zealand Limited SBS Bank TSB Bank Limited Westpac New Zealand Limited. Background 3. NZBA is grateful for the opportunity to submit on the New Zealand Business Number Bill, bill number 15-1 (the Bill). 4. NZBA would appreciate the opportunity to make an oral submission to the Committee on this Bill. 5. If the Committee or officials have any questions about this submission, or would like to discuss any aspect of the submission further, please contact: Kirk Hope Chief Executive 04 802 3355 / 027 475 0442 [email protected] 2 General NZBA fully supports the New Zealand Business Number (NZBN) initiative which will significantly help businesses to liaise with Government.
    [Show full text]
  • For Personal Use Only Use Personal for for Personal Use Only Use Personal For
    NZX/ASX Release Heartland publishes Annual Report and Notice of Meeting 30 October 2020 Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) has today published its Annual Report for the year ended 30 June 2020 and the Notice of Meeting for its 2020 Annual Meeting. Annual Report Heartland is pleased to release its Annual Report for the year ended 30 June 2020. The Annual Report is being sent to shareholders today. A copy is attached to this announcement. Annual Meeting Heartland’s Annual Meeting will be held on Monday 30 November 2020 at the South Lounge, Eden Park, Reimers Avenue, Kingsland, Auckland commencing at 2pm (NZST). The Notice of Meeting and Voting/Proxy Form are being sent to shareholders today. Copies of these documents are attached to this announcement. - Ends - For further information, please contact the person who authorised this announcement: Andrew Dixson Chief Financial Officer DDI: 09 927 9274 E: [email protected] Address: Level 3, Heartland House 35 Teed Street Newmarket, Auckland New Zealand For personal use only For personal use only 2020 ANNUAL REPORT OUR YEAR IN REVIEW P. 2 Chair’s Report P. 6 Chief Executive Officer’s Report P. 10 Na te kaiwhakahaere matua P. 14 2020 Results at a Glance COVID-19 P. 16 Our Response to COVID-19 P. 20 Reverse Mortgages and COVID-19 WHO WE ARE P. 22 Our Business P. 24 Our Directors P. 28 Our Leadership Team P. 30 Diversity Report P. 38 Corporate Governance P. 50 Directors’ Disclosures OUR SUSTAINABILITY JOURNEY P. 60 Sustainability Framework P.
    [Show full text]
  • Financial Institutions Performance Survey FIPS Review of 2017
    Financial Institutions Performance Survey FIPS Review of 2017 1 3.68% 7.35% escalation in growth in NPAT operating expenses 8 2 3.94% 3 1.17% rise in net decrease in provisions interest income 9 bps 4 4.68% decline in net increase in interest margins gross lending 7 5 7.30% 6 40 bps drop in gross drop in average impaired assets funding costs Contents 2 The Survey 4 A KPMG view from the editor KPMG’s Financial Services team provides 6 Industry overview 16 Timeline of events focused and practical audit, tax and advisory 20 Some of the significant management changes in the sector services to the insurance, retail banking, 22 Sector performance 30 Analysis of annual results corporate and investment banking, and 38 Major banks – Quarterly analysis 42 Getting practical with blockchain investment management sectors. 46 Conduct, robo-advice and good client outcomes 50 Revolutionising the banking eco-system 54 Getting past compliance crisis management Our professionals have an in-depth 60 Customer friction – reducing through emerging trends in Fintech innovation understanding of the key issues 64 RBNZ: Modernising disclosures with Bank Financial Strength Dashboard facing financial institutions. 66 FMA: Show us better outcomes for your customers 68 NZBA: Code of Banking Practice breaks new ground Our team is led by senior partners with a 70 Massey: Banking industry forecasts 74 Ownership and credit ratings wealth of client experience and relationships 75 Descriptions of the credit rating grades 76 Definitions with many of the market players, regulators 77 KPMG’s Financial Services Team 78 Contact us and leading industry bodies.
    [Show full text]
  • TSB COMMUNITY TRUST REPORT 2016 SPREAD FINAL.Indd
    ANNUAL REPORT 2016 CHAIR’S REPORT Tēnā koutou, tēnā koutou, tēnā koutou katoa Greetings, greetings, greetings to you all The past 12 months have been highly ac ve for the Trust, As part of the Trust’s evolu on, on 1 April 2015, a new Group marked by signifi cant strategic developments, opera onal asset structure was introduced, to sustain and grow the improvements, and the strengthening of our asset base. Trust’s assets for future genera ons. This provides the Trust All laying stronger founda ons to support the success of with a diversifi ca on of assets, and in future years, access to Taranaki, now and in the future. greater dividends. This year the Trust adopted a new Strategic Overview, As well as all this strategic ac vity this year we have including a new Vision: con nued our community funding and investment, and To be a champion of posi ve opportuni es and an agent of have made a strong commitment to the success of Taranaki benefi cial change for Taranaki and its people now and in communi es, with $8,672,374 paid out towards a broad the future range of ac vi es, with a further $2,640,143 commi ed and yet to be paid. Our new Vision will guide the Trust as we ac vely work with others to champion posi ve opportuni es and benefi cial Since 1988 the Trust has contributed over $107.9 million change in the region. Moving forward the Trust’s strategic dollars, a level of funding possible due to the con nued priority will be Child and Youth Wellbeing, with a focus on success of the TSB Bank Ltd.
    [Show full text]
  • View Inevitable
    In this Issue December 2016 Who pays the piper? 2 Sky City Entertainment Group AGM 29 AIA appoints its 3rd Future Director 4 Methven AGM 29 2016 NZSA Business Story of the year 5 Vital HealthcareProperty Trust AGM 30 A Message from the Chairman 2016 Beacon Award Winner Anounced 6 Mercury AGM 31 Membership Gift Certificate 8 NZ Oil and Gas AGM 32 A small step towards Commonsense Tax 8 Barramundi and Marlin Global 33 Investors have certainly had an interesting year! I hope for most of you it Environmental, Social, Governance (ESG) 101 - Steel and Tube AGM 34 The latest buzz 9 Delegat Group AGM 34 has been a positive one. The dramas surrounding Pumpkin Patch and especially Company Meetings Airwork Holdings AGM 35 Wynyard will have caught out some, but the correction during October should A2 Milk AGM 11 Tourism Holdings AGM 36 SLI Systems AGM 37 not have surprised market watchers. Political uncertainty around the globe EBOS AGM 13 (and at home) along with likely increases to interest rates and inflation and the Veritas AGM 14 Skellerup Holdings AGM 38 Contact Energy AGM 15 Freightways AGM 39 potential fall in house prices in some overheated areas such as Auckland will Genesis Energy AGM 16 Caught on the Net 40 bring challenges and opportunities. So 2017 certainly promises to be interesting. Comvita AGM 17 Branch Reports Tegel AGM 18 Auckland. 42 For the NZSA, it has been another big year. A highlight (or should that Precinct Properties AGM 19 Waikato 44 really be lowlight?) was our success in removing a sitting director at Rakon.
    [Show full text]
  • Submission Productivity Commission Regulatory Institutions & Practices
    Submission to the Productivity Commission on the Regulatory Institutions & Practices Issues Paper 31 October 2013 NEW ZEALAND BANKERS ASSOCIATION Level 15, 80 The Terrace, PO Box 3043, Wellington 6140, New Zealand TELEPHONE +64 4 802 3358 FACSIMILE +64 4 473 1698 EMAIL [email protected] WEB www.nzba.org.nz Submission by the New Zealand Bankers’ Association to the Productivity Commission on the Regulatory Institutions and Practices Issues Paper About NZBA 1. NZBA works on behalf of the New Zealand banking industry in conjunction with its member banks. NZBA develops and promotes policy outcomes which contribute to a safe and successful banking system that benefits New Zealanders and the New Zealand economy. 2. The following fourteen registered banks in New Zealand are members of NZBA: ANZ Bank New Zealand Limited ASB Bank Limited Bank of New Zealand Bank of Tokyo-Mitsubishi, UFJ Citibank, N.A. The Co-operative Bank Limited Heartland Bank Limited The Hongkong and Shanghai Banking Corporation Limited JPMorgan Chase Bank, N.A. Kiwibank Limited Rabobank New Zealand Limited SBS Bank TSB Bank Limited, and Westpac New Zealand Limited. If you have any questions about this submission, or would like to discuss any aspect of it further, please contact: Kirk Hope Chief Executive Telephone: +64 4 802 3355/ +64 27 475 0442 Email: [email protected] 2 Executive Summary 3. NZBA welcomes the decision by the Productivity Commission to undertake an inquiry into regulatory institutions and practices. 4. NZBA submits that quality regulation is essential to an efficient and well-functioning economy. Poorly conceived and implemented regulation can significantly hinder innovation, productivity and ultimately economic growth.
    [Show full text]
  • The World's Most Active Banking Professionals on Social
    Oceania's Most Active Banking Professionals on Social - February 2021 Industry at a glance: Why should you care? So, where does your company rank? Position Company Name LinkedIn URL Location Employees on LinkedIn No. Employees Shared (Last 30 Days) % Shared (Last 30 Days) Rank Change 1 Teachers Mutual Bank https://www.linkedin.com/company/285023Australia 451 34 7.54% ▲ 4 2 P&N Bank https://www.linkedin.com/company/2993310Australia 246 18 7.32% ▲ 8 3 Reserve Bank of New Zealand https://www.linkedin.com/company/691462New Zealand 401 29 7.23% ▲ 9 4 Heritage Bank https://www.linkedin.com/company/68461Australia 640 46 7.19% ▲ 9 5 Bendigo Bank https://www.linkedin.com/company/10851946Australia 609 34 5.58% ▼ -4 6 Westpac Institutional Bank https://www.linkedin.com/company/2731362Australia 1,403 73 5.20% ▲ 16 7 Kiwibank https://www.linkedin.com/company/8730New Zealand 1,658 84 5.07% ▲ 10 8 Greater Bank https://www.linkedin.com/company/1111921Australia 621 31 4.99% ▲ 0 9 Heartland Bank https://www.linkedin.com/company/2791687New Zealand 362 18 4.97% ▼ -6 10 ME Bank https://www.linkedin.com/company/927944Australia 1,241 61 4.92% ▲ 1 11 Beyond Bank Australia https://www.linkedin.com/company/141977Australia 468 22 4.70% ▼ -2 12 Bank of New Zealand https://www.linkedin.com/company/7841New Zealand 4,733 216 4.56% ▼ -10 13 ING Australia https://www.linkedin.com/company/387202Australia 1,319 59 4.47% ▲ 16 14 Credit Union Australia https://www.linkedin.com/company/784868Australia 952 42 4.41% ▼ -7 15 Westpac https://www.linkedin.com/company/3597Australia
    [Show full text]
  • ADVISERS on BANKS ADVISERS on BANKS 2016 the Results of NZ Adviser’S Inaugural Advisers on Banks Survey Are In
    SPECIAL REPORT ADVISERS ON BANKS ADVISERS ON BANKS 2016 The results of NZ Adviser’s inaugural Advisers on Banks survey are in. We reveal which banks topped the rankings and what advisers think about commission, turnaround times, BDM support and more. www.nzadviseronline.co.nz 1 SPECIAL REPORT ADVISERS ON BANKS WHAT ADVISERS WANT IT’S OUT. NZ Adviser has released its first Advisers on Banks report and three banks have risen above the rest, sweeping up our WHAT’S IMPORTANT TO ADVISERS? gold, silver and bronze medals. With the Financial Advisers Act Review, new loan- Turnaround times 4.76 to-value ratio limits being implemented and the official cash rate and interest rates at record lows, it is certainly a time of change Interest rates 4.40 for the industry and now would appear an appropriate time to add to the mix the Credit policy 4.35 opinion of advisers on bank performance. Using an online survey conducted in June- Commission structure 4.19 July this year, we collected advisers’ views on major banks to gain a picture of bank activity in the broker channel. Advisers were asked to BDM support 4.15 rate the performance of the banks they had Communication and dealt with in the last 12 months against 11 engagement 4.15 criteria. What we found was that the smaller Product range 3.73 banks have excelled in clawback policy and turnaround times, the latter which also Clawback policy 3.63 happens to be the issue most important to our survey respondents. What also stood out was the bank that ranked top didn’t just excel Training & development 3.54 in one category but gained consistently high Product diversification scores across the majority.
    [Show full text]
  • Discussion Document: Accessibility of Retirement Savings in Bankruptcy for the Repayment of Creditors
    Submission to the Ministry of Business, Innovation and Employment on the Discussion Document: Accessibility of retirement savings in bankruptcy for the repayment of creditors 30 September 2016 NEW ZEALAND BANKERS ASSOCIATION Level 15, 80 The Terrace, PO Box 3043, Wellington 6140, New Zealand TELEPHONE +64 4 802 3358 FACSIMILE +64 4 473 1698 EMAIL [email protected] WEB www.nzba.org.nz About NZBA 1. NZBA works on behalf of the New Zealand banking industry in conjunction with its member banks. NZBA develops and promotes policy outcomes that contribute to a strong and stable banking system that benefits New Zealanders and the New Zealand economy. 2. The following fifteen registered banks in New Zealand are members of NZBA: ANZ Bank New Zealand Limited ASB Bank Limited Bank of China (NZ) Limited Bank of New Zealand Bank of Tokyo-Mitsubishi, UFJ Citibank, N.A. The Co-operative Bank Limited Heartland Bank Limited The Hongkong and Shanghai Banking Corporation Limited JPMorgan Chase Bank, N.A. Kiwibank Limited Rabobank New Zealand Limited SBS Bank TSB Bank Limited Westpac New Zealand Limited. Background 3. NZBA welcomes the opportunity to provide feedback to the Ministry of Business, Innovation and Employment (MBIE) on the Discussion Document: Accessibility of retirement savings in bankruptcy for the repayment of creditors (Discussion Document). 4. NZBA members have a particular interest in the Discussion Document, as they uniquely have competing interests in both insolvency policy (from a creditor perspective) and retirement savings policy (from a KiwiSaver provider perspective). Despite this, NZBA members have a clear view on the proposals in the Discussion Document, outlined below.
    [Show full text]
  • Fitch Affirms Seven New Zealand Financial Institutions
    8/30/2017 [ Press Release ] Fitch Affirms Seven New Zealand Financial Institutions Fitch Affirms Seven New Zealand Financial Institutions Fitch Ratings-Sydney-30 August 2017: Fitch Ratings has affirmed the ratings of the following seven New Zealand financial institutions: - Kiwibank Limited; - TSB Bank Limited; - Southland Building Society (SBS); - The Co-operative Bank Limited (Co-op); - Nelson Building Society (NBS); - Credit Union Baywide (CUB); and - Wairarapa Building Society (WBS). At the same time, the agency has assigned Local-Currency Issuer Default Ratings (IDR) to TSB, Co-op and CUB. A full list of rating action is at the end of this commentary. The affirmation of the IDRs, Viability Ratings and instrument ratings for the seven institutions reflects our view that they are likely to continue performing solidly over the next year or two. However, we maintain a negative sector outlook for New Zealand, reflecting rising household indebtedness and high property prices, which could lead to asset quality deterioration if unemployment or interest rates rise. Conversely, dairy exposures, for the institutions that have them, are likely to see improved asset quality if higher global dairy prices are sustained into 2018. Many of these entities are planning for strong loan growth. However, we believe market conditions and regulatory action, including already-implemented macro-prudential tools, may make it increasingly difficult for the banks to sustain such growth levels. KEY RATING DRIVERS IDRs Kiwibank's IDRs reflect Fitch's view that there is an extremely high capacity and likelihood of support from the bank's ultimate owner, the New Zealand sovereign (AA/Stable), if required.
    [Show full text]