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CreditAccess Grameen Ltd.

BSE: 541770 Sector: Financials
NSE: CREDITACC ISIN Code: INE741K01010
BSE 00:00 | 30 Nov 505.75 -32.20
(-5.99%)
OPEN

537.70

HIGH

550.15

LOW

501.95

NSE 00:00 | 30 Nov 503.35 -33.65
(-6.27%)
OPEN

530.20

HIGH

550.10

LOW

501.00

OPEN 537.70
PREVIOUS CLOSE 537.95
VOLUME 22331
52-Week high 839.00
52-Week low 501.95
P/E 77.10
Mkt Cap.(Rs cr) 7,878
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 537.70
CLOSE 537.95
VOLUME 22331
52-Week high 839.00
52-Week low 501.95
P/E 77.10
Mkt Cap.(Rs cr) 7,878
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

CreditAccess Grameen Ltd. (CREDITACC) - Chairman Speech

Company chairman speech

"Redefining Business Resilience"

Dear All

The financial year 2020-21 was extremely demanding and impactful for our employees andcustomers as well as society at large. Our resilience and years of experience helped us toemerge much stronger in a pandemic hit year. We completed the financial year on a verystrong footing underpinned by robust portfolio growth and significant improvement in assetquality on the back of early risk recognition and conservative provisioning. We began ourwork towards organisational integration with Madura Micro Finance Limited handholdingthem to manage the operating challenges and gradually working towards alignment of allsystems processes and controls.

We had to quickly move from the celebration of having successfully managed an extremelychallenging year into the preparation for second wave of COVID-19. The experiences gainedduring these unprecedented circumstances have improved our ability to navigate throughalmost any challenges on our journey. Our highly capable team working across India hashandled every challenge and shown tremendous solidarity to protect the Company's andcustomers' interests.

During the financial year 2020-21 we successfully completed qualified institutionalplacement of Rs 8000 million. We achieved dual objectives of complying with SEBI'sMinimum Public Shareholding norm well in advance of the stipulated timelines and raiseadequate capital to strengthen our balance sheet and support our future business growth.Despite the uncertain macroeconomic environment due to COVID-19 pandemic we were able toreceive an overwhelming response from the investors showing continued confidence in ourresilient business model experienced management team and long term potential ofmicrofinance industry. This helped the Company to further diversify the shareholding base.

As we see the second wave of COVID-19 abating over coming months we are more preparedto manage the situation this time around; our core operating performances are showingencouraging results and the market is looking at us with much more confidence compared tolast year during the first wave of COVID-19. We can say that we have reaffirmed ouroutstanding positioning as the leading entity in times of crisis helped by our efficientprocesses strong rural focus and high customer engagement. CA Grameen has outperformedits peers in terms of growth liquidity and asset quality and has consistently receivedpositive recommendations from independent analysts tracking the microfinance sector.Finally we are very pleased to see CA Grameen awarded as "Great Place To WorkCertified" and Ranked as Top 30 Best Workplaces in BFSI Sector -2021 Consecutively!

CA Grameen has consistently increased its share in rural areas over the last fiveyears. As on March 31 2021 the number of borrowers serviced by the Company in ruralareas has increased to 85% compared to 78% in FY2017. Furthermore the customers wealready serve have demonstrated very high fidelity to our brand. Our adaptation of lifecycle approach while designing products effective delivery of services and constantsocial focus approach towards customers have enabled CA Grameen to maintain suchoutstanding customer retention rate.

We keep on working to bring back all our business our people and customers to thepost-COVID-19 "new normal". We have to adjust to new risks changed behavioursand different market dynamics. However we feel confident to be able to handle thesechanges and be back in business even stronger than before.

Thank you for your continuous support and stay safe!

PAOLO BRICHETTI
CHAIRMAN

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