I had the good fortune of attending the AGM with @vestro last...

I had the good fortune of attending the AGM with @vestro last week. We both walked away impressed with the way the board is conducting the business.

The Easy Bill Payment product is increasing its customer base by approximately 107 per month. They are still trialling this product and are working on modifications to make it more mobile phone friendly.  They expect to properly launch the product by June 2017 at the latest. They are still spruiking the potential for 500 new customers a month.

From 1 November 2015 to 31 October 2016, the home loan pool increased from $238.8M to $269.1M, an increase of $30.3M or approximately $2.525M per month. The stand out is the reduction in 30 days plus arrears to approximately 1.56% of the loan pool.

The debt agreements business appears to be holding with a recovery in the number of new customers which is up 4%.

The car lending business was discussed at length. In the last twelve months the loan pool has increased from $8.7M to $25.7M, a $17M increase or approximately $1.416M per month. This time next year you can expect the loan pool to be over $40M. The board has already explained that as the loan pool grows the rate of profit will increase from higher incremental margins due to fixed cost leverage. Tim suggested that once the loan pool hits approximately $50M, you can expect to skim a profit of 10% per annum from the loan pool.

If you have any questions, fire away.