This is one of the great "self help" stories in the market.. 73%...

This is one of the great "self help" stories in the market.. 73% cost to income ratio, 13% CET1 ratio, loan book quality in great shape as NAB took problem loans and the indemnified the company for STG1.7bn for any misconduct suits.
If they advanced credit status in a couple of years they will free up over STG500mln in excess capital as their risk weights on mortgages fall from 37% to around 20%.
Improving efficiency from improved IT will not only drive cost down but improve competitive position. On a price to book of 0.7x they have the ability to battle macro headwinds that may or may not lie ahead.. Great story.. CEO has a proven track record of being able to turn companies like this around..