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NZ trading bank leverage

Posted in Saving

The data on this page is sourced directly from each bank's quarterly Disclosure Statement (DS or GDS). 'Leverage' refers to the number of times the total assets of a bank (principally their loans and advances to clients) are larger than the shareholder's investment (including retained earnings) in the bank.

You can read our Opinion about what this data means to New Zealand here >>

It is the job of the Reserve Bank to regulate banks, and they report on how they are doing in their half-yearly Financial Stability Reports.

De-risking banks is an important public task, and shareholders are going to need to accept lower returns when that happens.

Updated 28 Mar 2013
               
(see Notes below) ANZ ASB BNZ Kiwibank Rabo
bank
SBS TSB Westpac Co-op Totals
  times  times   times   times   times  times  times times  times times

Leverage:
the number of times Assets exceed shareholder funds

 
 
 
 
 
 
 
Mar-08 12.0 20.0 14.3 22.4 23.1 15.6 12.5 11.8   13.7
Jun-08
11.9
18.6
14.7
22.2
21.1
15.9
12.4
12.4
 
14.1
Sep-08
11.7
24.2
16.3
27.3
21.2
15.6
12.4
14.5
 
15.6
Dec-08
13.2
24.3
19.2
32.3
22.3
17.0
12.1
11.1
 
15.7
Mar-09
12.5
23.7
17.9
27.9
22.7
16.3
12.6
14.9
 
16.0
Jun-09
11.8
20.7
18.6
29.2
24.5
15.9
12.4
14.8
 
15.4
Sep-09
11.7
20.4
18.7
28.0
24.8
15.6
12.6
14.5
 
15.3
Dec-09
11.1
19.5
16.9
28.6
26.0
15.3
12.9
14.4
 
14.7
Mar-10
10.8
18.7
16.9
26.8
25.0
14.8
13.3
14.4
 
14.4
Jun-10
10.5
17.9
17.2
20.8
26.0
14.4
13.1
13.8
11.8
14.0
Sep-10
11.1
17.4
17.4
21.3
11.6
14.2
13.0
13.6
11.7
14.1
Dec-10
10.7
16.7
17.4
21.6
11.2
13.9
13.3
13.6
13.7
13.7
Mar-11 10.9 16.0 16.9 23.3 11.3  13.9 13.5
13.7
13.7
13.8
Jun-11 10.7 16.0 17.2  22.8 11.2 13.7 13.3 13.2 13.6 13.4
Sep-11 11.0 16.6 17.0 23.4 11.8 13.6 13.1 13.5 13.9 13.9
Dec-11 10.2 16.3 15.3 20.6 11.4 13.4 13.1 11.9 12.8 12.7
Mar-12 10.6 16.0 15.3 20.1 11.1 13.2 13.1 11.8 13.0 12.9
Jun-12 10.5 15.2 13.9 19.7 11.8 12.6 12.7 12.2 12.7 12.7
Sep-12 11.1 14.8 13.9 19.3 10.4 12.9 12.5 11.9 12.7 12.7
Dec-12 10.9 13.9 13.8 18.8 10.3 12.4 12.4 11.8 12.5 12.5
Mar-13 10.7 13.5 13.5 18.3 10.1 12.2 12.4 11.3 12.2 12.2
Jun-13 10.8 13.2 13.6 17.7 10.0 12.1 12.1 10.9 11.2 11.5
Sep-13 10.5 12.8 13.2 17.7 9.1 12.6 12.2 10.7 11.3 11.3
Dec 13 10.3 12.6 13.4 17.5 9.2 12.2 12.1 11.2 11.3 11.3

(see Notes below) ANZ ASB BNZ Kiwibank Rabo
bank
SBS TSB Westpac Co-op Totals
  % p.a  % p.a   % p.a   % p.a   % p.a  % p.a  % p.a % p.a  % p.a % p.a

Shareholder returns:
NPATx at % of avg Shareholders Funds for previous 12 months 

 
 
 
 
 
 
 
Mar-08 13.7 17.2 21.0 12.5 11.7  9.4  16.1  17.7   16.1
Jun-08
13.9
15.7
20.1
12.5
12.6
8.5
15.9
16.6
 
15.7
Sep-08
 12.3 
15.4
19.7
11.6
14.2
6.4
 16.4 
15.3
 
14.7
Dec-08
10.9
16.4
21.7
13.2
11.7
6.6
15.3
13.1
 
14.1
Mar-09
9.7
15.2
19.1
14.8
14.4
7.6
15.0
10.2
 
12.4
Jun-09
7.6
15.2
0.1
19.7
7.4
8.6
15.4
7.0
 
7.4
Sep-09
2.9 
7.0
-4.7
19.8
5.6
7.9
15.4
6.2
 
 3.2
Dec-09
3.2
5.7
-4.4
16.4
3.3
9.1
16.0
4.7
 
 2.9
Mar-10
1.7
5.6
-4.3
14.9
4.0
8.8
15.7
5.4
 
 2.4
Jun-10
3.3 
7.0
14.7
10.0
5.8
7.5
13.6
7.1
 
 6.8
Sep-10
7.8 
14.5
15.1
8.0
10.8
9.0
12.3
7.2
 
10.1
Dec-10
7.9
14.6
12.1
6.5
15.8
9.2
11.5
8.4
 
9.9
Mar-11 9.0 14.8 11.1 4.1 11.8 7.4 11.4
8.8
5.8
10.1
Jun-11 9.1 14.7 10.3  3.5  12.4 8.0 12.0 8.6 4.8 9.9
Sep-11 10.3 13.8 16.4 4.9 9.5 6.5 12.1 10.1 3.6 11.5
Dec-11 11.5 16.7 18.9 7.2 8.0 6.1 12.6 10.4 2.9 12.5
Mar-12 11.4 17.3 17.3 10.1 8.8 5.7 12.5 10.6 4.5 12.3
Jun-12 12.3 17.1 17.2 11.3 10.8 6.6 12.8 11.3 5.2 12.9
Sep-12 11.9 16.6 11.7 12.4 10.6 6.1 12.8 10.7 5.7 11.7
Dec-12 11.0 15.8 8.1 12.9 10.5 6.0 12.6 10.8 5.4 10.7
Mar-13 12.1 15.4 9.9 12.7 10.3 6.3 12.5 11.3 4.3 11.4
Jun-13 12.1 14.9 10.9 11.8 9.2 5.5 12.3 11.1 3.6 11.4
Sep-13 12.2 14.8 12.6 11.0 8.6 5.9 10.8 11.4 2.7 11.7
Dec-13 12.9 14.8 13.8 10.4 8.2 6.1 10.6 12.6 3.4 12.4

 

This data is calculated from the following ...

 

(see Notes below) ANZ ASB BNZ Kiwibank Rabo
bank
SBS TSB Westpac Co-op Totals
   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil  NZ$mil   NZ$mil

Total Assets:

 
 
 
 
 
 
 
 
 
Mar-08 112,514 58,043 58,958 6,618 4,933 2,426 3,169 48,988   301,648
Jun-08
114,896
59,350
60,243
7,230
5,241
2,565
3,282
51,015
 
310,185
Sep-08
122,915
62,933
64,209
8,183
5,534
2.612
3,404
54,509
 
330,296
Dec-08
132,127
65,343
76,086
9,430 
6,015
2,565
3,651
55,951
 
357,358
Mar-09
127,941
65,530
73,301
9,759
6,303
2,541
3,832
54,368
 
349,662
Jun-09
121,896
65,230
70,175
10,371
6,582
2,565
3,924
54,584
 
340,584
Sep-09
117,891
64,784
69,862
10,786
6,847
2,612
4,056
54,509
 
336,238
Dec-09
115,103
64,650
67,732
12,019
6,936
2,661
4,300
55,357
 
333,529
Mar-10
113,577
64,581
67,268
12,076
7,107
2,628
4,405
56,254
 
332,765
Jun-10
113,258
63,557
68,005
 12,238 
7,376
2,581
4,418
55,200
1,409
330,077
Sep-10
116,458
64,751
69,647
12,642
7,103
2,572
4,485
55,179
1,422
338,858
Dec-10
113,803
63,496
68,634
12,969
7,178
2,826
4,721
56,293
1,452
336,393
Mar-11 114,313 63,189 68,668  13,846 7,361  2,814  4,850
57,695
1,452
 338,855
Jun-11 115,603  63,050 69,468   13,875 7,410 2,838 4,913 56,887 1,458 340,187
Sep-11 119,012 63,254 74,085  14,731 7,963 2,849 4,977 60,656 1,453 353,913
Dec-11 114,784 65,451 71,487 14,386 7,866 2,845 5,150 67,124 1,459 355,493
Mar-12 115,313 64,396 71,716 14,652 7,933 2,842 5,164 67,885 1,451 358,110
Jun-12 119,282 63,537 72,929 14,745 8,718 2,788 5,193 69,580 1,474 364,916
Sep-12 121,449 63,234 73,111 14,983 8,999 2,878 5,236 68,822 1,480 365,123
Dec-12 121,982 65,309 74,032 15,232 9,090 2,832 5,381 70,068 1,516 370,382
Mar-13 119.077 65,588 72,798 15,371 9,116 2,830 5,429 69,660 1,522 366,669
Jun-13 122,669 66,570 76,109 15,209 9,274 2,871 5,472 69,177 1,526 373,817
Sep-13 120,438 66,757 75,310 15,664 9,576 2,813 5,559 70,512 1,559 373,112
Dec-13 121,610 67,522 75,663 16,112 9,788 2,810 5,684 72,369 1,603 378,215

 

(see Notes below) ANZ ASB BNZ Kiwibank Rabo
bank
SBS TSB Westpac Co-op Totals
   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil    NZ$mil   NZ$mil

Total shareholder funds:

 
 
 
 
 
 
 
 
Mar-08 9,381 2,900 4,118 295 214 155 253 4,136   21,968
Jun-08
9.655
3,199
4,096
326
248
161
265
4,105
 
22,075
Sep-08
9,807
2,600
3,933
300
261
167
275
3,764
 
21,136
Dec-08
10,036
2,693
3,953
292
270
151
302
5,031
 
22,749
Mar-09
10,252
2,765
4,087
350
277
156
303
3,648
 
21,582
Jun-09
10,333
3,158
3,770
355
268
161
316
3,679
 
22,066
Sep-09
10,088
3,176
3,745
385
276
167
323
3,764
 
21,938
Dec-09
10,366
3,323
4,006
421
266
174
332
3,842
 
22,756
Mar-10
10,532
3,456
3,975
450
285
178
331
3,908
 
23,129
Jun-10
10,797
3,548
3,956
589
284
179
337
3,995
119
23,831
Sep-10
10,446
3,726
4,002
593
614
181
344
4,048
121
24,086
Dec-10
10,680
3,810
3,944
600
638
203
354
4,134
124
24,516
Mar-11 10,492 3,942 4,070 594 652  202 358
4,209
124
 24,656
Jun-11 10,766  3,947   4,032  608 663 207 370 4,316 125 26,391
Sep-11 10,825 3,816 4,349 629 677 209 379 4,496 126 26,854
Dec-11 11,270 4,021 4,672 699 692 213 392 5,624 127 29,060
Mar-12 10,925 4,018 4,673 729 712 215 396 5,751 127 28,858
Jun-12 11,324 4,187 5,247 747 739 221 410 5,708 131 30,073
Sep-12 10,932 4,282 5,277 778 866 223 420 5,796 132 30,069
Dec-12 11,220 4,709 5,379 809 884 229 434 5,945 134 31,143
Mar-13 11,103 4,861 5,403 839 905 232 438 6,141 135 31,460
Jun-13 11,398 5,025 5,581 858 931 238 452 6,353 136 32,394
Sep-13 11,467 5,202 5,687 884 1,047 223 457 6,566 139 33,113
Dec-13 11,832 5,369 5,636 921 1,066 230 471 6,446 142 33,574

and...

(see Notes below) ANZ ASB BNZ Kiwibank Rabo
bank
SBS TSB Westpac Co-op Totals
   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil   NZ$mil    NZ$mil   NZ$mil

Annualised profit after tax:

 
 
 
 
 
 
 
 
Mar-08 1,225 570 769 35 26 14 39 529   3,207
Jun-08
1,280
515
772
37
29
13
40
560
 
3,246
Sep-08
1,163
485
785
35
34
10
43
559
 
3,114
Dec-08
1,063
486
874
40
29
11
42
556
 
3,100
Mar-09
959
419
769
47
38
12
43
420
 
2,707
Jun-09
764
425
5
64
20
13
46
283
 
1,620
Sep-09
298
207
-181
68
15
13
48
248
 
716
Dec-09
331
177
-170
61
8
15
51
174
 
648
Mar-10
177
185
-166
60
10
15
51
204
 
536
Jun-10
347
236
578
46
15
13
45
275
 
1,555
Sep-10
827
510
602
41
38
16
41
286
 
2,361
Dec-10
842
529
481
36
72
16
36
339  
2,355
Mar-11 951 555 442 23 64 14 40
361
7 2,459
Jun-11 969 569 412 21 80 16 43 360 6 2,475
Sep-11 1,099 595 671 30 63 13 44 433 5 2,953
Dec-11 1,241 657 810 45 54 13 47 483 4 3,354
Mar-12 1,251 685 768 68 60 12 48 533 6 3,430
Jun-12 1,359 685 813 79 76 14 50 611 7 3,694
Sep-12 1,325 685 580 91 80 13 52 613 7 3,446
Dec-12 1,225 678 417 99 84 13 52 627 7 3,202
Mar-13 1,345 696 526 101 87 14 53 666 6 3,494
Jun-13 1,348 705 588 97 83 13 53 670 5 3,562
Sep-13 1,374 732 695 93 81 14 48 714 4 3,755
Dec-13 1,474 756 767 91 81 14 48 802 5 4,038

The term 'leverage' is used loosely on this page. For a fuller discussion about what it really means, see here »

Topics:

4 Comments

This is brilliant

This is brilliant David.

Cheers

Bernard

Wow ! ...... absolutely

Wow ! ...... absolutely crackerjack shareholder returns from the banks ...... what a shame NZ only has dreary old electricity companies to flog off to Mom , Pop & Iwi ..... , and no banks ......

There is an error in the

There is an error in the June-12 Total Assets figure for ASB - should be $63,537

Rabo has lowest leverage and

Rabo has lowest leverage and  as one might expect this means their shareholder returns are lower than the other larger banks. Westpac seems to do well being only slightly more leveraged than Rabo and yet produces a return higher than BNZ (although not as high as ANZ or ASB, both of who are much more leveraged)  
Nice collection of information.