If I had less, I would buy more ... can't do it again as am overweight by a lot. Price seems pessimistic given a P.E. < 10, good growth prospects and exiting SACC without a significant write down.
With so many lenders exiting car loans, these guys could increase the quality of their loan book further in a few short year. Scale will also give cheaper financing.
Ann: MNY enters NZ Market and exits SACC with sale for $46m, page-14
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