Is that it? I thought you were going to come back with something that was at least a little bit useful or some facts that might warrant some investigation . . .
No Real plans - what are you talking about? dude last half yearly showed they have double digit EPS growth, Underlying Earnings growth 26.5%, dividend growth 16.7%, income/expense ratio decreasing i.e. improved efficiency, merger synergies being realised, impaired loans being maintained at 0.08% all while expanding branch network and product offerings. The plan is to provide excellent banking products and services. May not sound like rocket science but guess what it works. I disagree with your claim that they do not know how to manage money because the numbers above and the clear focus on expense management while in an expansion phase shows me they do. Yes there are some questions around the ADB funding model but that will be a mere timing issue in the long run.
Adding 85m to tier one capital in the current environment with the growth plans that BEN has is sound capital management. To do so with limited if any arrangement fees is even better.
Either provide some support for the factless claims that you have made in your first post or do not post.
PS David, the basics tell me that buying SPP at 9.60 was a good purchase. I presume you don't hold :-).
BEN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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