-->I would be thankful if you can explain why the charges should...

-->I would be thankful if you can explain why the charges should only apply to the loan book increased & once only.
I remember a research about payday loans revealed that majority people get payday loan once a year only. I doubt many people live on payday loan month after month. At 160% interest rate, the power of compound interest should have bankrupt the people before long.
-->The interests that not only to do with amount of loans increased portion, but also to do with amount of loans of the base portion. Should apply to the total loans?
By the end of 01/July/2013 the total loan book is about 91m, which is not not much more than the 70m increase between 2009 and 2013. Apply 91m x 1/4 x 112%, you end up with 25m, no much difference than 20m compared to CCV's 260m equity. As you said, payday loan is usually short term loan, I doubt anybody would keep the loan across years.