SWF - trades up (expecting +75% QoQ), client cash up (+62% at...

SWF - trades up (expecting +75% QoQ), client cash up (+62% at end of February vs end of previous quarter) - both great. But RBA rates down from 0.75% to 0.25% in March, which might reduce their Net Interest Margin from 1.45% to 0.95% (35% reduction).

Overall, looks like a great quarter. But what about the following quarter if the Corona trades volume and client cash spike disappears, but with the RBA rates still very low?

They do still seem to be increasing market share, so the trades/cash pull-back should be relatively subdued.

So a very strong quarter, then unsure about the next quarter, but they're on a growth path either way.





ASX/ASIC were sort of complaining about the volume on Friday last week, but today was a new record again.



SWF's (estimated) chart looks fairly similar.



Put on the same chart, it looks like SelfWealth is growing their market share a bit more.

So trades revenue should be very solid. But client cash is harder to predict, along with interest revenue going forward, and expenses for the quarter.