CreditAccess Grameen Limited announces business update for November 2021

CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770, 'CA Grameen'), country's leading microfinance institution, today announced its business update on key operational indicators for the month of November 2021.

Key Operational Indicators: November 2021

• Consolidated gross loan portfolio grew by 18.0% YoY to INR 14,071 crore in Nov-21
• Consolidated disbursements of INR 1,505 crore in Nov-21 (vs. INR 1,371 crore in Oct-21), back to pre-Covid levels driven by increased customer confidence
• Consolidated branch network grew by 13.5% YoY to 1,575 branches in Nov-21. 187 new branches opened over last 12 months, primarily across newer markets
• 59,930 new borrowers added in Nov-21 (vs. 55,581 in Oct-21). Monthly new borrower addition run-rate expected to increase over coming months on the back of expanded branch network. Cumulative addition of 2,59,662 new borrowers since July'21
• Collection Efficiency in Nov-21 was stable at 94.3% (excl. arrears)/97% (incl. arrears) for CA Grameen. Excluding the non-paying NPA customers, Collection Efficiency in Nov-21 was 98% (excl. arrears)/101% (incl. arrears) indicating near normalcy
• Collection Efficiency in Nov-21 was stable at 87% (excl. arrears)/89% (incl. arrears) for MMFL. Excluding the non-paying NPA customers, Collection Efficiency in Nov-21 was 89% (excl. arrears)/92% (incl. arrears)
• Collections were stable despite brief period of festivities and unseasonal rains in Tamil Nadu and Karnataka
• Asset Quality at CA Grameen improved in Nov-21: PAR 0: 9.1% (vs. 9.9% in Oct-21), PAR 30: 7.4% (vs. 8.0% in Oct-21), PAR 60: 6.4% (vs. 6.5% in Oct-21), PAR 90: 5.6% (vs. 5.5% in Oct-21)
• Asset Quality at MMFL was largely stable with minor slippages on account of flood situation in Tamil Nadu in Nov-21: PAR 0: 20.2% (vs. 20.0% in Oct-21), PAR 30: 14.0% (vs. 13.7% in Oct-21), PAR 60: 11.2% (vs. 10.7% in Oct-21), PAR 90: 9.3% (vs. 8.7% in Oct-21). The PAR levels are expected to reduce over coming months

Shares of CREDITACCESS GRAMEEN LIMITED was last trading in BSE at Rs. 643.50 as compared to the previous close of Rs. 649.90. The total number of shares traded during the day was 5441 in over 457 trades.

The stock hit an intraday high of Rs. 660.90 and intraday low of 635.25. The net turnover during the day was Rs. 3500105.00.

Source : Equity Bulls

Keywords

CreditAccessGrameen INE741K01010 MFI NBFC BusinessUpdate November2021