CreditAccess Grameen's loan book grows 22% in FY22; adds 500,000 customers

CreditAccess Grameen Ltd: The collection efficiency including that from arrears was 96% in March 2022.

CreditAccess Grameen Ltd's (CA Grameen) consolidated gross loan portfolio (GLP) grew by 22.2 per cent year-on-year (YoY) basis to Rs 16,601 crore in March 2022 ( FY22).

In filing with BSE, the micro-finance institution said sequentially its consolidated disbursements stood at Rs 2,257 crore in March 2022 up from Rs 1,746 crore in February 2022. The consolidated figures include the performance of its subsidiary MMFL.

The collection efficiency including that from arrears was 96 per cent in March 2022.

The assets in the 90-days-plus dues category stood at 2.7 per cent in March 2022. On consolidated basis, its estimated write-offs were at Rs 291.1 crore.

Its branch network grew by 15 per cent YoY to 1,638 branches in March 2022. 214 new branches opened in the financial year 2022, primarily across newer markets.

It added about half a million customers in the last two quarters with 120,000 in March 2022, CA said.