RE:RE:Loan Book, Q1 + 1mthTake a closer look at it...
The improvement is in their uninsured portfolio, which is their least profitable
The uninsured portfolio (which is the profitable meat and gravy of their business), declined
The commercial, which they touted, was about flat
So all in all, this trend might be a slight negative to the profitability, would have to crunch the difference between the lower profit increase in insured portfolio vs the loss in the higher profit uninsured portfolio.
With that being said, I view this report favorably, not much change, which is a good thing in my eyes. I hope and suspect, they will resume growth in their more profitable sectors in coming months as things become clearer.
Bought a bit more today at 21.00 on the decline
GLTA