http://www.ambitgambit.com/2008/10/02/p-stands-for-petrac-and-pear-shaped/ Ambit Gambit Sat, 11 Feb 2012 19:31:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.ambitgambit.com/2008/10/02/p-stands-for-petrac-and-pear-shaped/comment-page-1/#comment-2719 Graham Young Tue, 07 Oct 2008 13:09:59 +0000 http://localhost/ambit/?p=3401#comment-2719 Peter, I was contacted by someone presumably acting on your behalf the day after this item was posted. I suggested that they get you to give me a call. I haven't heard from you. I had multiple sources for the story and I have yet to have any errors pointed out to me. Can you tell me what they are? I'm happy to correct the record. Peter, I was contacted by someone presumably acting on your behalf the day after this item was posted. I suggested that they get you to give me a call. I haven’t heard from you.
I had multiple sources for the story and I have yet to have any errors pointed out to me. Can you tell me what they are? I’m happy to correct the record.

]]> http://www.ambitgambit.com/2008/10/02/p-stands-for-petrac-and-pear-shaped/comment-page-1/#comment-2720 Peter McAvoy Tue, 07 Oct 2008 12:48:49 +0000 http://localhost/ambit/?p=3401#comment-2720 Attn: Graham Young Very disappointimg that you saw fit to print this erroneous material without reference to the company to source the facts. Peter McAvoy Attn: Graham Young
Very disappointimg that you saw fit to print this erroneous material without reference to the company to source the facts.
Peter McAvoy

]]> http://www.ambitgambit.com/2008/10/02/p-stands-for-petrac-and-pear-shaped/comment-page-1/#comment-2721 MikeM Fri, 03 Oct 2008 13:33:25 +0000 http://localhost/ambit/?p=3401#comment-2721 As of 29 Feb 2008, BOQ had $18 billion in deposits (of which $13 billion is retail deposits) plus $7 billion in borrowings, against $23 billion in loans and advances. Its acquisition of Home Building Society last year materially strengthened its deposit base, <a href="http://www.boq.com.au/uploadedFiles/Shareholder/2008_Interim_Profit_Financial_Summary_and_appendix_4D.pdf." rel="nofollow">http://www.boq.com.au/uploadedFiles/Shareholder/2008_Interim_Profit_Financial_Summary_and_appendix_4D.pdf.</a> St George on 31 March last had $113 billion in loans with $51 billion in retail deposits, <a href="http://www.stgeorge.com.au/resources/sgb/downloads/about_us/2008_half_app4D_final.pdf." rel="nofollow">http://www.stgeorge.com.au/resources/sgb/downloads/about_us/2008_half_app4D_final.pdf.</a> Percentagewise BOQ is slightly better off but still has substantial dependence on wholesale funding. While both have heavy dependence on the housing loan market, what really wounded some of the banks in the 1990 recession was heavy lending to developers that went bust in the downturn. We will have to wait and see whether this happens again. As of 29 Feb 2008, BOQ had $18 billion in deposits (of which $13 billion is retail deposits) plus $7 billion in borrowings, against $23 billion in loans and advances.
Its acquisition of Home Building Society last year materially strengthened its deposit base, http://www.boq.com.au/uploadedFiles/Shareholder/2008_Interim_Profit_Financial_Summary_and_appendix_4D.pdf.
St George on 31 March last had $113 billion in loans with $51 billion in retail deposits, http://www.stgeorge.com.au/resources/sgb/downloads/about_us/2008_half_app4D_final.pdf.
Percentagewise BOQ is slightly better off but still has substantial dependence on wholesale funding.
While both have heavy dependence on the housing loan market, what really wounded some of the banks in the 1990 recession was heavy lending to developers that went bust in the downturn. We will have to wait and see whether this happens again.

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