Massive opportunity cost, page-274

My understanding was they tranche and sell blocks of their loan book to larger banks, packaging it up like a bond to a degree. Their funding rates would most likely be tied to their loan terms, 3 years at least you would think, maybe 5, they have been fairly on the front foot with increasing rates as well, so I am not sure if that would be material, probably more the provision for default would be the financial drag.

Unfortunately I know they have cleared out some staff of late, so they feel the need to cut costs and would dare say they will look to broker channel to leverage growth. I am not expecting anything that will help the share price until later in the year and think we will stay around here for a while yet. Hopefully they can show a small yearly profit for EOFY23.

They have also cut their lending criteria from 'any worthwhile purpose' to consolidation, cars and caravans, so that will make them a lot less dynamic, seems they are crawling into their shells.