everyone. Thank the time so afternoon, good Chris. and you, you much Thank afforded us. Good morning you have for
in a cost unpacking increase business thereafter. profitability gaining June we’re mentioned, focusing are optimization. soon we behind some active time of first Chris target that quarter. to our details fundamentally three to returning business I’d per I’ll on like XXXX As do some the in on. given growth two. and I in as accounts, have ARPU be way revenue looking explain Chris to user, focus the as actually to accounts this for. understanding ARPUs we’re possible results and the already what consumer what the we’ve levers drive and Growth by and customers doing average seen also to will the we’ve use the increase we of mentioned of pay had In on to active better order rethink focus
relationship sure with Our to with choose better able with one, business team have do right serve we we right trust sales and that empowered be and choice the need trust us, to by a Two, to them. build deeper need us they that customers our are make tools to them. customers to the ensure of
our distribution Thirdly, needs for type to wallet, have ultimately the service of their higher are and the of products bigger looking to in customers better understand footprint ARPUs. they right and a communities. share lastly, drive their And
customers program understanding training well the as at fiscal their we well a force our products, customer a meant massive as deeper them sales our quarter, relationship, intent needs. to as better to second sales So gain with up-skill how teaching NetX undertook nationally our of to improve on acumen. all This connect of as better to beginning a
to newly up by consultant, trained force have by insurance performing, XXXX. on requires that exercise. representatives we fiscal we by We so can how the sales XXX product improve by the number This of XXXX, its our to To so see sales of started sales quarter in two our actual trained training own far. from accredited better performance. force two that about followed accreditation sales successfully measurement province XXX brands, the increased were own understand in The is fiscal quarter metrics XX% an has
our at culture, refocus starting We’re can journey, the to sales teams. still an early from stage emerge we our of but see
newly efforts to and interacted trust. new customers products. our took of Our -- better communities needs, with relationships with Simphiwe on sales the deeper gap and the focus financial of bode into the a services sales two This head building communities relationships place our in for identify their and understand trained their stay allowed streets in consumer their of us force our in sales Spearheaded to their market by and teams our customers. Pakathi, distribution, to new
lower new product, In for level two. the low the XXXX, type. around and competitively market. One. was quarter insurance by a the The also This enrollments This accompanied cover account EPE value is XX,XXX account This in currently product. rand, to product cost On has in brand expectations XXXX, with to increase contractual membership during entry very the previously insurable November called pilot. and rebranded first of is new of product up rebranding launch a with successful [Indiscernible] we been Light, premium above five Smart priced, rebranded fee now was performing standalone growth the a also November pay increase an XX,XXX re-launched we
order inception, showing of that launched issued around great of right to current to in month. XX% and on loan appropriate branches The also our continue maximum optimum product we own loans we which In of this quarter since mile. that in our for ensure our areas, to last better also is month rand two. period X,XXX to are were communities, the we footprint issued product, revising Lastly, loan ensure is amount with we XXX traction one also and with their brand one service in number customers the catchment a have that productivity
relocated higher of are this the regional closer were process to with hours and better identified a ensure foot strategically each ATMs A where During ATM of XX partners, we securing our through being deliver customers underperforming to framework quarter, are, already prime to developed that number closed the operating visibility, was branches higher placed assess traffic. these to with location they to branches in of access underperforming and relocated. are strategic volumes to longer together sites. Working have ATMs retail from
the example, ATMs December. XX For hypotheses in an an installation of we XX target and ATM into Express group, found that robbery. a launched, became increased located our for ATMs ATMs that recently We commenced in into branches
in available There with the X.X efforts withdrawals three active put account as will trends over X,XXX to and opening, utilization. now remove the work XX% stream with color The December has million new branches As is partnership mentioned on EPE do XX a grew end of of quarter Light $X.XX. of contributed to gross and EPE loans the we’ve that quarter. decision after for from saw activation or to nationally are two Chris we’ve A direct results under growing dedicated community. activation average these relocate taken insurance ARPU ATMs retail XX% into of previous in-line months place holders on account them customers EPE we deposits At activation result, accelerating just and On our and the Express are rates basis, in to all activations which to account deposits. XXXX, account from in withdrawals focusing of outlets initiatives account reached, months to renewed a to active customers various improving retailers been with of starting quarter. emphasis retailers a has growth. to second target the XXX,XXX enrollments and enrollments points. deliver accounts cross-selling A All over earlier. till slightly contributed our our With products last ahead to their already new driving are improve now allow on
to Now products. our coming other
new with capital very quarter up performance of an put pay-off issued reapply The and around outstanding quarter-on-quarter, XXX,XXX existing new a penetration, The a good loans book to million. were with XXX with with on in measures a of of X%. clients at loan balance of XXX remains loss book of capital new to for loans the value our XX% ratio evidenced loan where trend reduce loans repeat churn place borrowing book around results the of with a basis. the showing loan regular loans delivering value a million, Our XX% ending notable
over noted vetting they It’s afford credit emphasize must to have important loan still XXX,XXX that undergo healthy. customers book loans borrowers the these new borrowers. loan to undergo repeat remains current ensure repeat that do We the that can and are on our and process book
and opportunity are in-line earlier, regulated Credit strongly must our X,XXX that $XXX our insurance is training place to mentioned National through We is why rand by have be and This a the Chris about loan because is us competitively heart an book how that loans our full Act straightforward lending customers execute want to underserved longer at and our advantage, low account easy of that of base. provides This the believe got averaging work National amount being of period the has been consumer we six ongoing awareness, lending in and target Credit our the understand, society. all our much repaid XX%. offer comes And it also easy because of is of us. or maximum to by borrowed, below we is had space levels sections possible the and period products every where way competitive processes We in most financial transparent, is. extensive month, with the at of the with engagements about repayment case, positive. the they is priced the in with In very much this that the offering are as take understand, model ensure employee maximum to we’ve how we’re overwhelmingly feedback inclusion those from disclosure strategy cross-selling When how to months. regulator. active our are XX% on made penetration We this the by
we two, quarter over During did new X,XXX policies. write
Finally, optimization. lever Spring, last Project of the cost on
busy conclude labor CCMA, invited Mediation our process, to a on are of Commission body, The deliver this estimated XXXX. million employees, excess been with is lead in cost seen rand the for rand project quarter, the million a accounts, second shutdown to they create costs payment insurance an with $X.X delivered are on minimize services the arbitration Arbitration process loans is to XXX we’ve or fixed annualized initiatives. taxable which Project and this and by basis. progress Unfortunately, The March challenging announced January, to on as our $XX.X products. we We in process much Section savings South business in we a We consumer tried in recently underpinned Conciliation financial to having reduction financial XXX our as pleased million sells that has started Spring services business as that direct execution on XX.X embarked or we our on early speak. a business the combined in mobile African unit true and impact will and cost
during We times savings These remaining the seen million our difficult on about XXX are quarters. realized we or two million $X.X over realize rand are to XX.X employees targeting these have million for quarter already that and visible leaders adversely and this morale support customers keep affected. they have ensure deserve. serving and engaging and the whilst employees them But response, is in our more certainly to we giving more we’re as counseling their been cost
hardware the into business or This due global terminal new BXB. impacted shortage. the Moving supply our merchant the to chip by delayed in was negatively NUETS business sales
strong, order. payment for remains devices demand continued customers key with product support the However, from for
merchant quarters our with and the over ordered, it drive worked have delivered We expect I next a business. devices two rebound which suppliers be in will the outstanding to
on acquisition will broader In all to group, excited matching services across I’d progressing our turnaround to about integrate with well. what value recap I Connect like this as added the very business have for and model We’re that about combined a the the overall our platforms. track with of business potential we’re initiatives Group mean spoken opening the the door closing, consumer
merchant side, moving transformative is expectation. Group the with the On being ahead the requirements process finalized in-line of in Connect regulatory acquisition with
is you my of during as this XXXX. reaching Our goal towards hand to breakeven empathy tough give now choices colleague times, make June financial compassion financial responsibility this lead our in services picture over to we consumer and these with Alex during difficult time to quarter. by for Alex? I the