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The point is the amount they are earning is overly generous for the work completed. Most banks are only working with existing customers, so the DD is 99% compl
by tempsy 7y ago
The point is the amount they are earning is overly generous for the work completed.
Most banks are only working with existing customers, so the DD is 99% complete. Few are reviewing applications from brand new clients.
- _curious_ 7y agoNot to mention that the banks are biased and giving no risk handouts to their most valuable clients (those at greatest risk of defaulting on obligations to the bank).
- asah 7y ago"existing customer" due diligence seems like fair profit...
- cm2187 7y agoEven then, SME clients don't do operations (like loan applications) with their banks every month, so that doesn't mean the DD is up to date (bank regulations change almost on a weekly basis).
- agilebyte 7y agoYes, but the point is DD was done (last year or today). Effectively the government is paying the banks for the work they've done creating a relationship with the clients, which includes DD.