My friend you claim they have made nothing but your wrong. On the income statement there is a cost to gross revenue that is after expenses or it would not be gross so this cost they mention must be revenue due to being on the income statement so how is this to be.
Administration cost as well as cost of sales is a capital cost that is deductible from the income tax act of 1940 in other words it is defered to a later date hence the cash flow derived from depreciation that is used for additional collateral.
Now because it is an up front charge the bank has in place that increases in volitile times that we have seen here in commodities this cost will increase while allowing interest rates to stay much the same.
This also allows the appearance that a debt is being paid down when in fact it is not cause the funds to pay this charge comes from the borrowing activity.
Now because this is a deductible expense this windfall can be sold off as equity but the money has to be put aside and often it will be used as an investment bond with a later date of repayment known as goodwill.
So they are making revenue off of capital cost that has a future time off set component to the instrument.
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