How can this entity have $21m of GTP loans with a "best guess"...

How can this entity have $21m of GTP loans with a "best guess" write off of circa $16m and Bendigo have $500m and provide for such a small amount?

One theory (mine) is that if the provisions were bigger it would become self fulfilling that less people would pay because of the perception others weren't.

There is so much confusion out there with potential class actions, actual actions, planners acting on behalf of their clients to get bank to prove they even own the loans (Navra) when on the other hand the banks using the press as a tool to inflate their own case (ie, people are paying, people are dropping out of class actions, investors are all doctors who will pay etc).

My take - bank is on some soft ground and collecting as much cash as it can out of this.

Fast forward 2 years and see how much they ACTUALLY write off.

Toothless ASIC wont go the bank for breaching continuous disclosure etc

the result - the investor gets screwed