Loan book decay is faster than writing of new business....no-ones borrowing, or they don't like the credit risk
deposit taking strong, but will be a loss maker on the books...this is the price one pays for liquidity buffers....repaying the bonds is a good outcome from this, and IMO is the right outcome
NCPA comment....I read this as 'is taking a hit now, and a further writedown in this years accounts better than having this drag out another two n a half years, with no certainty that it will prove a better outcome?'
you will find out in June
a fair result so far, but not setting the world on fire, are they