The branch network is mainly the personal loans, if they run off the SACC perhaps they will have to close some stores. I don't recall a break down of branch segment loans. No detail was given at the AGM in terms of formal plans other than the standard exit line.
However, if you assume that 'online' is basically only SACC lending (200 - 2000 are the amounts specified), that gross loan book is about 9.5m. Therefore, given total SACC was 28.1m (declining again in q1 FY19) perhaps up to 18.5m of the branch gross loan book is SACC (FY18 45.9m). That is upwards of 30 - 40% of the loan book for the branch segment.
I think this is reasonble given you can see the large decline in online segment lending fairly consistant with the 7.5m SACC loan book decline, while the branch network incresed it's book by 4.5m. This is also consistant with 'larger amount longer term' loans growing by 7.2m over FY18, some of this presumably housed in the branch segment. It's mentioned in the MD address that larger and longer term loans are expected to see 'good growth' in FY19.
Maybe the SACC exit is looking to transition the branches to high interest, yet sub 48%, mainstream credit personal loans. Maybe thats why no sale occured and SACC keeps running down, yet larger peronal loans increase while the branch network stays the same.
