'impairment expense' would reflect loan book growth combined with the accounting rule for up-front impairments?
As to my question in the call, Autopay with its lower NIM, has some other benefits including longer repayments. I'd imagine that could be worse for the account rule? Up-front provision many years in advance of repayment. Though he said something about low expected credit losses on auto loans anyway.
Also, Autopay may come
down as a total proportion? Since it's above target. So raising CC debt etc. Though I thought the customer demand was for Autopay.
And maybe it takes more time for the funding cost benefits to flow through, from the secured loans?
(20min delay)