Pioupiou (and myself) were not making the point that profits follow the inverse of the loan book growth, just that loan book growth suppresses profits due to upfront provisioning.
Of course if the upfront provisioning cost is greater than the incremental interest revenue (time weighted) from a larger loan book - then indeed profits will be lower. Which happened in ... let me struggle to dig that out ... in 1H FY22.
CCP Price at posting:
$31.87 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)