It looks like that management failed to take full advantage of their lower mortgage rates by being unable to cope with the demand.
They have done this before, when they reduced bank fees to attract new customers and then unable to cope with the new applications.
This is just sheer incompetence, to repeat same mistake twice.
If you discount something you expect to make the reduction and more in increased volumes. If you can not supply the increased demand, you are better off doing nothing.
Company sacrificed good dollars to make itself look good and instead ended up with an egg on its face.
Brian
NAB Price at posting:
$24.78 Sentiment: Hold Disclosure: Held
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