Shareholder Returns, page-20

again, you’re partly wrong and quite misleading

when interest rates are record low and your entire business is micro lending, these are the times to borrow and lend like crazy, and gain market share. They relaxed their borrowing guidelines as they realised they were losing market share and the knock back rate was much higher than others. So contrary to your thoughts, it’s actually a bad thing for a growth fintech and BNPL especially, to be a global micro lender with strict borrowing guidelines - it defeats the whole purpose. The growth and top line offsets the bad debts eventually and as the AI matures, it cleanses and strengthens the book

no one is saying go crazy, but in micro lending like BNPL, you can’t afford to be last, especially with zips balance sheet - poor warehousing deals, no investor interest, slower growth, more pressure on expenses too

this was always a race against time, competitors and macros.

you said zip have learned their lesson? What lessons?

it is becoming evident of the difference in leadership and strategies, across the similar players.

the half yearly will be ugly IMO