Ann: 1Q24 Trading Update - Strong Revenue and Lower Losses, page-32

I am surprised by the extent of the NIM drop. Rates went up by 0.5% since over the these 2 reporting quarters. This suggests an aggressive turnover of the book. It would be good to have some information on "front" and "back" book, to get a better idea of what they are converging to. With lower net NIM, we want to see costs coming down too. Or see them grow again while keeping a lid on costs. Not a word on that though. Keen to see some form of quantified strategy for the years ahead: target size/NIM/costs etc.... Right now, the company is in the sin bin still. I am tempted to add at the current SP, though it is unclear to me what the catalyst for a change in SP fortune could be. And I am still a bit worried that sharks are circling those non bank lenders trading at pretty low level.