APT Margin Transaction Losses, page-44

How come AfterPay has the highest amount of late fees in the sector?

that was your question. Then you spew out some large numbers to make it sound oh so horrible.

but often the obvious answer is the right one, they have the highest fees (total) because (brace for shock) they have the most customers and active customers.

I'd like to see the late fee income drop, and certainly drop faster as a percentage of total income, but the numbers in the case do add up (or actually divide... but that is splitting hairs) - it is not an indicator of the creditworthiness of customers (either way).