My super novice understanding of the AASB9 impairment is that...

My super novice understanding of the AASB9 impairment is that they have to recognize some losses in the current year for future bad debts. So what they are trying to say by Cash NPAT is excluding that impairment item (because those bad debts haven’t been written off yet) this is what our profit would of been otherwise.

Looking at last year’s impairment compared to what was actually written off it was pretty close (slightly less which is positive)

Of course because the loans outstanding are so much higher the impairment will be too, as long as a total % it’s decreasing YoY.

I’m not an accountant but that was my best effort of trying to make sense of it. Would appreciate someone correcting me if I’m off the mark.