Unfortunately I don't think that metric is relevant. They can pay their overheads because there is a NIM, but there are zero prospects of them being able to pay a dividend, the is what drives the valuation, ultimately. It's not a high growth tech company where you can value it on a revenue multiple and the losses are ignored in the short term. It's beyond that now, there is 'no tech': they lend Money, and not efficiently. Without HUGE moves in that efficiency, it will never pay a dividend
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