debt sale - anz, page-7

why are banks selling?

1 - Bank profits are now equal or above Pre-GFC Level. So bank can afford to writeoff something and shareholder would nto notice.

2 - Baddebt or loss on loan is tax deductible so 30% saved there.

3 - Better returns elsewhere. Remember money is in limited supply now and it will get allocated where there is the most return.

I dont hold CNP as I sold it after reading the AGM results. not sure if their is any upside for seurity holders but good luck to you guys