Profitability concerns due to increased credit risk and loan provisions
Doubts about asset quality increase due to sale of $85 billion loan portfolio
Uncertainty about future growth due to the increasing trend of problem loans
Despite fourth-quarter net income of $5.3 million and a 21% increase in sales, increased credit risk and rising loan provisions raised investor concerns. The sale of an $85 billion loan portfolio amplified doubts about asset quality, and the increasing trend of problem loans was confirmed, putting a strain on future profitability. Despite the growth of its BaaS platform and a 40% increase in payment processing volume, asset quality concerns have had a greater impact on the stock price.
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