Nice one. And most of that is has come from heir lending activity, which came from the acquisition of Invigo and then flatlined fro Q2 FY22. In aggregate, the DW did not help generating new revenues. Loans on balance sheet were either terminated or refinanced into the DW, and the increase in volumes just compensated for the additional cost of financing. You graph then really brings it home - what is going with lending??
And then, the reverse graph would be even more concerning. It would be the one where you draw the non lending revenues vs rise in payment volumes, to show that they're really not making much at all for all the services they are providing.
Nice one. And most of that is has come from heir lending...
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