Lending is not a homogeneous market, geography wise 99% of time. Exceptions being COVID, DEMON. How can you extrapolate one company’s poor risk management, lending standards, lack of geographic diversification to the entire industry?
Look at the results others delivered, the difference is night and day. What Fusion reported as credit cost in Q1 is more than the annual projection of everyone else barring ESAF. And all the results are for the same period, so no new stress is being reported by Fusion. Almost every other operator has said stress is limited and reducing and H2 should be normal growth wise.
This was a blip caused by elections, Q1 was an excellent identifier of good vs bad lenders. Make use of that information.
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