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notices and features - Date published:
5:30 pm, March 24th, 2021 - 15 comments
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Great – now make sure a wholly NZ owned bank buys it. The only hurdle to overcome will be the Australians doing their darndest to keep it out of NZ hands just to fuck us over, but if we dig deep, back ourselves and go hard with good old kayway ingenuity we know we can come away with the goods…
https://www.stuff.co.nz/business/300261126/westpac-considering-sale-of-new-zealand-business
Kiwibank should be funded so finally the Govt operating account will be with them as was originally mooted at their founding. There has been noises about this for a while:
https://www.stuff.co.nz/business/industries/108411192/treasury-to-investigate-kiwibanks-readiness-to-become-the-governments-bank
Nothing happened.
Won't happen. Kiwibank needed ACC and NZSuperfund to get a majority shareholding because without them they wouldn't have been able to recapitalise.
Kiwibank will never be able to swallow something that size. Kiwibank are less than 5% of the NZ market despite all the patriotic fervour to its advertising. Westpac are a huge part of our market.
There were vague rumours last year that Kiwibank's shareholders would have a go at buying BNZ. Bad luck. Buying Westpac would be multiples times in magnitude to the BNZ, so nah.
Westpac may well be the total shitbags that the RBNZ paints them to be, but they are a dominant part of our banking system. Westpac selling off would be to our banking system what Tiwai Point leaving would be to our electricity market: years and years of massive adjustment.
It's not hard to predict that within 15 years there will be zero physical branches left of any bank anywhere here. Then all of that patriotic fervour will be for naught really: it all becomes just digits on your screen.
Can't see how not having branches changes who you choose to bank with. People choose Kiwibank because who owns it not cause pretty green branches.
Accessibility, and some people like to speak to a person face to face.
All communities and mayors kick up a fuss with branch closures, and there's massive account shifts afterwards.
we don't know how lucky we are.
https://www.stuff.co.nz/national/health/coronavirus/300260810/covid19-guests-face-28day-miq-stays-after-being-put-on-bus-with-positive-case
lol
oh well…….nothing changes really.
https://www.stuff.co.nz/life-style/homed/housing-affordability/124647654/onebedroom-home-seeking-offers-over-745k-sells
lol
And that is a prime example of the insanity that is the NZ housing bubble.
Yes.
Oh dear. Having turned away from the tough questions in ZB to focus more on whether Adern prefers vegemite or marmite on some soft rock station interview yesterday, looks like even her control the narrative Facebook live sessions are going south too
https://www.newshub.co.nz/home/politics/2021/03/housing-crisis-social-media-users-attack-jacinda-ardern-over-government-s-new-housing-plans.html
lol. Can't see the nats getting their social media arse together like that. Have property investors hired Carrick Graham lately?
Our David is not David Seymour.
David Seymour would post under his own name, he's a politician. And our David is several levels dumber than David Seymour which in itself is not a bar you want to be measured by.