I note the following "The rate of liquidations corresponds to solid growth in the Payment Arrangement portfolio from$356m at 30 June 2020 to $367m at the close of the quarter". I don't recall seeing this type of figure before. I assume it means the gross collection value of the PDP is $367m. I note that the accounting value of PDP's at 30 June 2020 in the Annual report were $260m. So I assume that there is about $100m ($367 less $260m give or take $10m for the last quarter) of potential income from the current PDP over say the next three years. Then on top of that there will be net income from the collections above the accounting value, from the new PDP's. Sound right?
PNC Price at posting:
53.5¢ Sentiment: Hold Disclosure: Held
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