CreditAccess Grameen Q3 FY22 GLP grows 18% Y-o-Y to Rs 14,587 crore

CreditAccess Grameen's consolidated Gross Loan Portfolio (GLP) grew 18.4% Y-o-Y (year-on-year) to Rs 14,587 crore in December 2021 (with CA Grameen contributing Rs 12,180 crore and MMFL contributing Rs 2,407 crore).

Consolidated disbursements stood at Rs 1,845 crore in December 2021 as compared to Rs 1,505 crore in November 2021 (with CA Grameen contributing Rs 1,485 crore and MMFL contributing Rs 360 crore).

Consolidated branch network rose 14.7% Y-o-Y (year-on-year) to 1,593 branches in December 2021. 204 new branches opened in the calendar year 2021, primarily across newer markets. 90,505 new borrowers were added in December 2021 over 59,930 in November 2021 on a consolidated basis. A cumulative addition of 3,50,167 new borrowers since July 2021.

Collection Efficiency at CA Grameen improved to 95% (excl. arrears)/ 98% (incl. arrears) in December 2021 compared to 94.3% (excl. arrears)/ 97% (incl. arrears) in November 2021. Excluding the non-paying NPA customers, collection efficiency in December 2021 was at 98% (excl. arrears)/ 101% (incl. arrears).

Collection Efficiency at MMFL improved to 89% (excl. arrears)/ 91% (incl. arrears) in December 2021 as compared to 87% (excl. arrears)/ 89% (incl. arrears) in November 2021. Excluding the non-paying NPA customers, collection efficiency in December 2021 stood at 91% (excl. arrears)/ 94% (incl. arrears).

Asset Quality at CA Grameen saw an improvement in December 2021 - PAR 0: 6.8% (vs. 9.1% in November 2021), PAR 30: 5.6% (vs. 7.4% in November 2021), PAR 60: 4.8% (vs. 6.4% in November 2021), PAR 90: 4.2% (vs. 5.6% in November 2021). Rs 134.9 crore was written off in December 2021 by CA Grameen.

Asset Quality at MMFL saw an improvement in December 2021 - PAR 0: 16.5% (vs. 20.2% in November 2021), PAR 30: 11.1% (vs. 14.0% in November 2021), PAR 60: 8.6% (vs. 11.2% in November 2021), PAR 90: 6.9% (vs. 9.3% in November 2021). The PAR levels are expected to further reduce over coming months. Rs 55.7 crore was written off in December 2021 by MMFL.

CreditAccess Grameen reported 7.9% fall in standalone net profit to Rs 71.99 crore despite 8.3% rise in total income to Rs 510.33 crore in Q2 FY22 over Q2 FY21.

Shares of CreditAccess Grameen gained 0.54% to Rs 573.05 on BSE. CreditAccess Grameen is a microfinance institution focused on providing micro-loans to women customers predominantly in rural areas across India. The company, on consolidated basis, is now operating in 303 districts in the 14 states in India through 1,566 branches.

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