The only positive in the background is the decline in new cases of covid-19 in Australia. Not sure if this is too little, too late, but if lock-down restrictions start to ease in coming month or two business & employment conditions may start to improve which would be better for PNC forecast. It might mean the material adverse conditions are not as bad as expected like in the US etc. I know Macq bank recently bought & sold CCP stake, so if they are still looking at this debt collection sector they would be a good fit in terms of funding, asset mgt & this type of deal.
PNC Price at posting:
27.0¢ Sentiment: None Disclosure: Held
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