Bradford Hutchins’ Post

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This is worth a read. Key message: keep it simple and focus. Notable highlights for those without access: 1 - McEwan’s 11-year stint as a bank CEO, first at RBS, then at NAB, is essentially the story of stripping two struggling banks back to their core after years of misguided and ultimately unprofitable additions. The simple strategy of getting back to basics for customers and staff (or colleagues, in McEwan-speak) was about learning how to be less Ferrari and more Holden (he drives a Holden ute apparently). 2 - When he arrived at NAB in late 2019, McEwan found a different problem – a bank making good money, but with staff morale crushed by the battering NAB had taken during the Hayne royal commission, which infamously culminated with the departures of chairman Ken Henry and CEO Andrew Thorburn. The challenge this time, McEwan says, was to show staff “the purpose that a bank has so that we could actually get excited about the business we had, and what we do for customers” 3 - There’s nothing fancy here, but delivering consistent growth, without the stuff-ups NAB had become known for (or even the write-downs that have become a regular feature of some rivals’ results) has been rewarded by the market. NAB shares are 26 per cent higher today than on McEwan’s first day in the office. 4 - “I think the biggest challenge going forward is holding on to the great work that’s been done since the royal commission … staying relevant to customers and staying very strongly with the purpose of banking, which is an absolutely honourable purpose of helping customers with their financial needs. “So, I think that’s the biggest one – stay on course and stay on target for looking after customers.” I should confess I have been sceptical of banks professing to turn the corner. So appreciate any contra indicators in comments. But his underlying message resonates with me and adds to a growing body of anecdotal evidence for me on successful strategy: simple and focused.

M&T Bank’s Annual Letter to shareholders explores some meaningful themes. One that is important to me is the company's continued commitment to driving positive change in communities across our growing footprint. “The past year is one we won’t soon forget. We endured tragedy and pushed through disappointment. We learned a great deal about the world and about how we can improve our bank to better serve our customers. A community-focused banking model fails quickly without model community bankers who work tirelessly to cultivate customer relationships and then work harder, still, to figure out what matters to a community and how they might then solve a problem and make a difference. We learned that our mettle would continue to be tested—often by circumstances that would have seemed unimaginable—but that the indominable spirit of a community—of our M&T community—cannot be broken.” — M&T Bank Chairman and CEO René Jones Artwork on the cover of this year’s message to shareholders by Alder Crocker.

Great article by Carl Moritz. It is amazing how many regional banks we see with 100k deposit households and either outsourced or insignificant credit card books. Properly run credit card portfolios can hold serious advantage over fixed term loans (consumer or small businesss) in uncertain economic conditions. The great thing is that technology providers like @Amount have significantly leveled the playing field.

💡 A New Chapter 💃 05 / 08 / 2024 📅 "I am because WE are", these were the words shared by our Head of Group Strategy, Mrs. Lynda Kahari as we gathered at the Staff Cafeteria yesterday to celebrate the approval of CreditBank PNG's Full Banking License 😊 It has been a journey, one that involved a visionary Leader (we have a great Leader indeed, Mr. Danny Robinson), a very supportive Board and the tireless dedication from the staff and management of Credit Corporation. This truly was a team effort! When I say I wore my CC uniform with pride yesterday, I mean it. Even though I gained a few kilograms since it was issued and had to "tuck-it-in" all day to make it seem like it fit, I wore that set of uniform with such pride it didn't bother me at all! 😄 I would have worn that uniform to sleep if it weren't for the need to breathe, so off it came at the end of the day. 😅 The atmosphere in the office remains buoyant today—the mood is lighter, and the excitement is palpable. Cheers to a milestone worth celebrating; we now eagerly anticipate the future! 🎉 🎉 🎉 "Growth equals change. If you want to get better, you have to keep changing and improving. That means stepping out into new areas." - John Maxwell #creditbankpng #cbpng #creditcorporationpng #arelationshipyoucanbankon