The lower profit is due to lower margins because funding rates rose faster than loan rates, not due to demand. If interest rates remain flat for 2 years margins will increase back to prior levels assuming bad debts don't rise. When interest rates fall margins will be higher than before until they level out for 2+ years.
The biggest concern are the potential penalties from Aus & NZ regulators.
2 year forward gross yield is forecast to be 15% based on current share price.
SVR Price at posting:
$1.02 Sentiment: Buy Disclosure: Held
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