Novatti Group's International Bank of Australia (IBOA): A Leap of Faith in the Payments Industry, page-3

IBOA is shareholder suicide ( as evidenced in the slow train smash of the SP)

No one is maying a return on investment in neo banking why does an under-capped underfunded NOV think they have any strategic differentiation (they don't)

Aus Neobanks have gone bust or returned their licences (Xinja, Volt) after wasting 100s millions of investment in the last 24 mths - nobody even wants to play in the Reserve Bank's play pen with a restrictive license - the reality is the banks in Australia are strong and provide a good product esp on the tech side (all-be-it under a duopoly rent extraction model)

The executive team need to fall on their sword kill of this ill conceived bank (and the massive on going funding costs which are back stopped by NOV shareholders )....... or the market will I trust force the board to change management and focus the business on payments (something they claim to do well and have a proprietary advantage (I have no knowledge to say if they do or they don't) ... they have promised external funding and strategic partners for IBOA but NOV SH are paying the misleading media needs to stop - I read that another $100m is required to move to a full licence.......

This ill conceived strategy and inability to accept the mistake early will pull a good company under

NOV history is full of projects launched with a fanfare that come to nothing BUT they don't cull them despite evidence they are destroying shareholder wealth and as importantly de focussing the executive team (the recent Stable coin initiatives being just one example)

I give it 6 mths before wholesale executive changes are forced on the board or the assets are put up for sell to retain some hope of Shareholder returns

Im only staying in (purchased at 60c) so now just a roulette chip - I wish I had followed my instincts and analysis as soon as the whole bank was introduced as a potential strategy