Ann: FY17 Results Presentation, page-162

and if charge backs were 7%, then credit card/consumer loans wouldn't be so hotly sought after in the securitisation market... and the likes of APT and ZML wouldnt have warehouses in place... off the back of the supposed likeness of credit between their books and consumer cards. Unfortunately, I think the world will come to learn that their risk profiles are vastly different to basic credit card books...because annual fees, and points wheen out the shite from the solid.