The point is CBA didn't need to have 30 to 50 million customers...

The point is CBA didn't need to have 30 to 50 million customers and continue rapid expansion to be in profit. They created sticky customers that are loyal to the bank and are quite profitable.

Yes, currently zip has some poor customers that make up the 11.4 million which are increasing the bad debts but the point is now they have a lot of customers both good and bad they can now begin to slowly filter out the bad and try and retain the good by offering rewards or incentives for them to increase their usage. The total number of customers zip has doesn't automatically mean that zip can flick a switch and become profitable of this base, it means they can slow the rapid expansion and be more critical of the customers they accept in order to retain better customers in an effort to become profitable. As they said, changing the formula to filter out the poor customers upfront will lower bad debts over time.

Netflix had negative growth in accounts for the first time, potentially a direct impact of inflation. Discretionary items are first to go. Same impact with zip. Heading into a macro environment that is causing concern for meeting payments. Bad debts will probably continue to rise and revenue will decrease in the short term until the economy normalises long term. Time will tell...