Some good points have already been made so I will be brief...

Some good points have already been made so I will be brief @vestro.

I remember walking into a reputable second hand dealer a few years back. The good wife commented that there were not too many customers looking at the second hand goods. I told her to check out the que at their lending counter. That was where the real money was being made.

It’s a bit the same with FSA, while there is no real growth in the debt agreement side of the business, their lending counters are pumping out loans at a great rate. One business feeds off the over. It’s all about the lending going forward.

By comparing today’s release with the AGM update as at 31 October 2016, we get a good idea as to how much was borrowed in November and December 2016. That is the most recent data that we are going to get, its pure gold!

The loan book for the vehicle loans went up $3.4M or $1.7M per month. The home lending went from $269.1M to $279.7M in the two month period. That is significant growth in my opinion for both pools. They seem to have found a way of further reducing their bad debts which is brilliant.

Let’s hope they don’t stuff it up like my second hand dealer.