Moves in mortgage and deposit rates since the RBNZ started OCR hikes show savers losing out, bank margins rising and competition in the borrowing market

Yes, that's just what the Aussie banks do - all that hard work to pay the marginal bank debt tribute gleaned from New Zealanders with savings goes right back to Aussie in the form of repatriated profits - at a magnitude recorded in $billions.

... the earnings yield ( inverse of the PE ratio ) for the ANZ is 7 % .... and the actual gross dividend payout is 5.77 % ...

You're right Mr Landlord , it's a no brainer , stop whinging about the banks , own some !!!!

Thanks for that information, well done ,i was involved in the ING/ANZ frozen funds group at committee level so although we won the day after a two year battle i am afraid i still have a bitter taste in my mouth.But i will view your suggestion with an open mind . I think when you have a head start on the monopoly board it opens up the doors to unfair advantage which people in power abuse, common term being fraud , but different rules appear to apply to how far up the greasy pole you are.

You can't' afford bank shares except heartland?

With Westpac and ANZ about $35 on the NZX that must mean you spent less than $35 on those heartland shares.  So they doubled in value to $70, now your sitting on $35 profit, and you then sold half to realise half that profit and recoup your initial investment.  Now tell me, how much brokerage did you pay on both those transactions?

Having spent almost 7 years researching the subject after being sold junk bonds by ANZ along with amny others we took the time to find out why, i would say the subject is well documented, from presentations like "Money Masters" to excellent books like ":The 13 bankers" "Lords  of finance' Bankers who broke the world 'even a New Zealand production "You can bank on It.

I have also been fortunate to have friends who include the head of lehmans Trading desk in a major Asian capital when they went down to head of LLoyds TSb Commercial in another major western city. So a lot of research, one of our own NZ ANZ/ING frozen funds group has been working on our book "The Hustlers" which once legalities are eventually sorted we hope to get published, many of our members were threatened during our campaign so one has to choose words carefully,but its all out there an dthe harder you scratch the more you uncover , there are reasons for quotes made by some of histories most famous.

f the American people ever allow private banks to control the issue of their  currency, first by inflation, then by deflation, the banks…will deprive the people of  all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)

When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes… Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.” – Napoleon Bonaparte, Emperor of France, 1815

Issue of currency should be lodged with the government and be protected from domination by Wall Street. We are opposed to…provisions [which] would place our currency and credit system in private hands. – Theodore Roosevelt