 "CreditAccess Grameen's gross loan portfolio rises by 18.4% in Dec")
Microfinance institution CreditAccess Grameen Ltd’s consolidated Gross Loan Portfolio (GLP) rose by 18.4 per cent year-on-year (YoY) to Rs 14,587 crore at end of December 2021.
The consolidated numbers for CreditAccess Grameen Ltd (CA Grameen) also include the performance of its subsidiary MMFL.
GLP of CA Grameen grew by 19.4 per cent YoY to Rs 12,180 crore and MMFL’s GLP expanded by 13.6 per cent YoY to Rs 2,407 crore.
Referring to monthly performance in December 2021, the micro-finance institution said its consolidated disbursements were higher at Rs 1,845 crore in December 2021 from Rs 1,505 crore in November 2021.
It informed BSE that CA Grameen expanded its presence to tap business. Its consolidated branch network grew by 14.7 per cent YoY to 1,593 branches in December 2021. It added 204 new branches in the calendar year 2021, primarily across newer markets. In December 2021 it added 90,505 new borrowers as against 59,930 in November-2021 on a consolidated basis, MFI said.
Collection efficiency of CA Grameen improved to 98 per cent in December from 97 per cent in November 2021. These collections include arrears as well. The collection efficiency at subsidiary MMFL improved to 91 per cent in December 2021 compared to 89 per cent in November November 2021.
CA Grameen showed improvement in asset quality in December 2021 with dues declining across buckets. The dues in 30-day bucket stood at 5.6 per cent in December (7.4 per cent in November), 60-day due category at 4.8 per cent in December (6.4 per cent in November 2021) and 90-day at 4.2 per cent (5.6 per cent in November). It has written-off loans worth Rs 134.9 crore in December 2021.
Its subsidiary MMFL also showed improvement in asset quality with dues in 30-day bucket at 11.1 per cent in December (14.0 per cent in Nov-21), 60-day bucket - 8.6 per cent (11.2 per cent in Nov-21), 90-day bucket 6.9 per cent (9.3 per cent in Nov-21). The dues levels are expected to further reduce over coming months. MMFL has written off Rs 55.7 crore in December-2021, it added.
The consolidated numbers for CreditAccess Grameen Ltd (CA Grameen) also include the performance of its subsidiary MMFL.
GLP of CA Grameen grew by 19.4 per cent YoY to Rs 12,180 crore and MMFL’s GLP expanded by 13.6 per cent YoY to Rs 2,407 crore.
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It informed BSE that CA Grameen expanded its presence to tap business. Its consolidated branch network grew by 14.7 per cent YoY to 1,593 branches in December 2021. It added 204 new branches in the calendar year 2021, primarily across newer markets. In December 2021 it added 90,505 new borrowers as against 59,930 in November-2021 on a consolidated basis, MFI said.
Collection efficiency of CA Grameen improved to 98 per cent in December from 97 per cent in November 2021. These collections include arrears as well. The collection efficiency at subsidiary MMFL improved to 91 per cent in December 2021 compared to 89 per cent in November November 2021.
CA Grameen showed improvement in asset quality in December 2021 with dues declining across buckets. The dues in 30-day bucket stood at 5.6 per cent in December (7.4 per cent in November), 60-day due category at 4.8 per cent in December (6.4 per cent in November 2021) and 90-day at 4.2 per cent (5.6 per cent in November). It has written-off loans worth Rs 134.9 crore in December 2021.
Its subsidiary MMFL also showed improvement in asset quality with dues in 30-day bucket at 11.1 per cent in December (14.0 per cent in Nov-21), 60-day bucket - 8.6 per cent (11.2 per cent in Nov-21), 90-day bucket 6.9 per cent (9.3 per cent in Nov-21). The dues levels are expected to further reduce over coming months. MMFL has written off Rs 55.7 crore in December-2021, it added.
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