Retail loan book of non-banking financial companies (NBFCs) is likely to grow at 19-21 per cent in the current fiscal year, driven by the high demand for commercial vehicle (CV) loans, said a report.
NBFCs being the key financiers to the CV segment would benefit from the expected new vehicle sales growth and demand for used vehicles in FY19, Icra said in its report today.
The rating agency said it "expects the NBFC-retail credit, which stood at Rs 7.5 trillion as on March 31, 2018, to expand at 19-21 per cent during FY2019, as key growth drivers for large asset sub-categories remains intact."
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