I was also expecting a higher loan pool than $34.2M at the end...

I was also expecting a higher loan pool than $34.2M at the end of May 2017. I went back to the half yearly report and read the following commentary. Our personal loan to purchase a motor vehicle is exceeding our expectations. Our focus over 2017 is to maintain new monthly originations at the current level, allow the pool to age and closely monitor arrears and losses, at which point we accelerate new origination growth. We are targeting a June 2017 closing pool balance for personal loans of over 35 million.

I have never attempted to borrow money from Westpac but I could understand why they would be cautious if you had your hand out for an extra $20M. Let’s see what the default rate is come 30 June. They have obviously deliberately slowed the lending down to demonstrate to Westpac that there business model is sound. They will make up lost ground when Westpac have chilled!