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CreditAccess Grameen Ltd.

BSE: 541770 Sector: Financials
NSE: CREDITACC ISIN Code: INE741K01010
BSE 16:00 | 12 Apr 565.00 -49.65
(-8.08%)
OPEN

612.00

HIGH

612.80

LOW

558.00

NSE 00:00 | 12 Apr 562.05 -52.45
(-8.54%)
OPEN

615.00

HIGH

615.00

LOW

554.45

OPEN 612.00
PREVIOUS CLOSE 614.65
VOLUME 26921
52-Week high 839.00
52-Week low 314.00
P/E 94.48
Mkt Cap.(Rs cr) 8,790
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 612.00
CLOSE 614.65
VOLUME 26921
52-Week high 839.00
52-Week low 314.00
P/E 94.48
Mkt Cap.(Rs cr) 8,790
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

Paolo Brichetti

Chairman

Dear all

The end of the financial year 19-20 has been marked by COVID-19 crisis. The virus hassuddenly invaded our life with severe implications for all. In few days COVID-19 evolvedfrom a "Chinese virus" or an "Italian problem" into possibly themost severe global crisis of last decade.

Since then social distancing has been taking over the personal touch which has alwayscharacterized our business and culture. Many companies have closed their offices untilfurther notice many people have been working from home the informal businesses of ourclients have been impacted too even if possibly less than all businesses in the mainurban areas.

But it is in these defining moments that we see the strength of our family and theculture that differentiates us... and the CreditAccess Family across the NetherlandsItaly India Indonesia Philippines and Thailand has been united more than ever.

At the same time the financial year 19-20 has been by far the best and most excitingone:

We have been expanding our business both organically and inorganically via theacquisition of Madura Microfinance up by 67.6% YoY bringing the total loan portfolioclose to Rs 12000 Cr and serving more than 40 lakh active customers.

We achieved record annual profit have strengthened our branch network close to 1400(consolidated) employee count crossing 12000 including Madura staff. We have beenawarded the 'Best NBFC'; the 'Best financing for Water & Sanitation'; the 'Best MFI ofthe Year'; the 'Best Company empowering Rural India' and the Great Place to Workcertification as India's best workplaces in BFSI 2020 (in the top 25 overall).

But .what about our future?

During the COVID-19 crisis we have been keeping momentum and even acceleratingwherever possible on some of the most important projects aimed at digitalizing ouroperations and designing new products/businesses which will be piloted during the currentfinancial year 20-21 to go on improving our total customer centricity.

Besides the continuous communication with our customers we approved a Rs. 7 crore post-COVID and health education plans targeted at our customers and their families. Ourcustomers and our employees are our most important assets and we are all focused to ensuretheir health and safety.

We keep on working to bring back all our business our people and customers to thepost-COVID "new normal". We have to adjust to new risks changed behavioursdifferent market dynamics ... but we feel confident to be able to handle these changes andbe back in business even stronger than before.

Thank you for your continuous support and stay safe!

- Paolo Brichetti
Chairman

 

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