Wednesday, 20 November 2019 11:16

Boo-hoo

Written by  The Hound

OPINION: Your old mate can’t believe the gall of the NZ big banks crying about their ‘reduced’ profitability this year.

First out of the blocks was ANZ, shedding crocodile tears about how “tough things” had been in the past year and how it had only managed to make a profit of $1.825 billion for the year to September 30 on its NZ business -- an 8% drop on 2018.

The next big Aussie bank to publish its result was Westpac, with its NZ arm reporting a 3% lift in net profit to $964m, from $936m last year.

But this didn’t stop its $2.5m-a-year NZ boss decrying how business conditions had “deteriorated” in the second half of the reporting period, based largely on uncertainty about the outlook for next year.

Your canine crusader would be interested to know just how ANZ and Westpac are currently treating their rural/farming clients and how ‘tough’ they are making it for them.

More like this

Featured

Fencing excellence celebrated

The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards, providing the opportunity to honour both rising talent and industry stalwarts.

National

Machinery & Products

Tech might take time

Agritech Unleashed – a one-day event held recently at Mystery Creek, near Hamilton – focused on technology as an ‘enabler’…

John Deere acquires GUSS Automation

John Deere has announced the full acquisition of GUSS Automation, LLC, a globally recognised leader in supervised high-value crop autonomy,…

Fencing excellence celebrated

The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards,…

» Latest Print Issues Online

The Hound

A step too far

OPINION: For years, the ironically named Dr Mike Joy has used his position at Victoria University to wage an activist-style…

Save us from SAFE

OPINION: A mate of yours truly has had an absolute gutsful of the activist group SAFE.

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter