Agreed Joe - the business is suffering from a combination of...

Agreed Joe - the business is suffering from a combination of pressures at the moment. None the least of which are sentiment and interest rate pressures. It can be said they have been through it all before so I am confident that they will emerge when rate certainty arises and prosper even more when rates begin to drop. Its probably at or near the point where if you are a bottom feeder then its time to get in. There might be a bit of an opportunity cost but the yield should be a bit of a reward in the meantime. You are right also about the balancing act of tightening credit quality and not losing too much momentum. IMO I think the best means is to tighten policy gradually and adjust according to the effects on revenue . Quite a juggle when the revenue is already affected by cost of living increases and economic uncertainty on one hand and profit by margins due to rate rises on the other. Glad I did not see as many factors affecting lending at the same time when I was in the business.