Ann: 1H 2023 Results Investor Presentation, page-7

Astounding result when compared to other ASX listed banking institutions of a similar market cap. While AU based lenders have their earnings slashed by as much as 25%, KSL delivers a 2% increase in Net earnings on PCP despite a 50% increase in the tax rate. This is a result that the market has truly underappreciated today, with a mild 1.27% rise in SP. Even in a broad bear market that's clawing at the banking sector, KSL is coming through unscathed thanks to its strong growth trajectory. Their 2025 vision is one I want to be around to see, with new towns to expand to and a majority financially uninitiated populace to indoctrinate, combined with vast swathes of land to lot and finance, it is the stuff of the banking wild west! The cherry on top will be converts from larger and more established banks to the rising Kina Bank.

This is all possible as long as the savages do not ascend from the overgrowth to burn everything that will burn. Which I am adamant is not possible on a meaningful scale in a system of tribal warfare where dozens would fight dozens over trivialities.