Herman Chan

There was a bit higher credit costs this quarter due to about $2.2 billion in provisions related to the pending Apple Card business that they're onboarding from Goldman Sachs.

So analyst investors should be aware of that, given the pickup on a reported basis.

The beats were really strong, especially on the market side.

Revenues on the markets trading side looks like it's up 17% year over year.

That's higher than consensus and higher than what they had outlined at a recent investor conference.

Great.

One of the real highlights of your recent investor day last month was the panel discussion with marketplace investors.

And we talked about this earlier before your appearance here on radio.

One of the panelists talked about being aligning performance expectations, partnering with better operators.

Are you seeing that with the private credit space?

Thanks.

I wanted to follow up with you, Scott, on some of the medium-term expectations you laid out in Investor Day.

You talked about doubling loan originations.

We're talking about $18 to $20 billion a year.

What are some of the levers to get you to that level?

You mentioned use cases, maybe talk about home improvement as a use case, and how do you maintain solid credit quality as you ramp up that volume?

And home improvement is something you're getting into, right?