Surely Westpac needs to look at the money it lending Z1P which keeps losing money the more money it lends out on Zip Pay. It's having a capital raising today to sophisticated investors according to the ASX announcement.
APT appears to be making money because it lends on smaller amounts but maybe the Z1P model has a flaw in it only time will tell, however, should not APRA become involved in this sector too as it does the banking sector which it appears banks such as NAB & Westpac are providing funding to Z1P?.
Why is APRA not involved to oversee such companies and what type of charge do lending banks have on these entities in the event of failure?
Surely Westpac needs to look at the money it lending Z1P which...
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