Maybe auto loans have lower downside? Eg. in a downside economic scenario, maybe you can recover more from secured assets? So we're losing profit in the short term, but reducing downside risks in a worst-case?
It's hard to understand, and I didn't see them articulate it.
I see them speaking about 'lower bad debts from the higher credit quality customers', but not that we're losing more than that in NIM, and why it's worth it.
MME Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
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