Satin Creditcare Crosses a Major Milestone of Rs 10,000 Crore standalone AUM

Leading microfinance lender Satin Creditcare Network Limited (SCNL) (NSE: SATIN, BSE: 539404) has announced its remarkable milestone of crossing Rs. 10,000 crore Assets Under Management on standalone basis. This accomplishment underscores the company's customer centric approach, robust risk management practices and innovative credit offerings tailored to meet the diverse needs of its clients. The AUM of the company as on December 31, 2023 was Rs. 9,811 crore.

The Company has witnessed strong business momentum by showing a strong rebound after disruptions caused by the Covid pandemic by taking proactive measures and strategies. Satin Creditcare has made net customer additions of 6.3 Lakhs as of 9M FY24 and grown by 35% YoY, thereby crossing its significant 3 million clientele mark. The Company has disbursed Rs. 2,698 crore during Q3 FY24 as against Rs. 2,202 crore and Rs. 1,980 crore during Q2 FY24 and Q1 FY24 respectively. In Q3 FY24, the company opened 32 new branches, leading to a total network of 1,165 branches spread across 24 states and union territories.

Commenting on this remarkable achievement, Mr. HP Singh, Chairman cum Managing Director of Satin Creditcare Network Limited, said, "We are thrilled to announce this stellar achievement as it marks an important moment in our journey of over three decades in working towards making financial inclusion accessible to all and creating a positive change in the communities we serve. Over the years, we have nurtured a powerful business model with diversified portfolio, constant adoption of digital technology and great underwriting capabilities. Besides this, a healthy capital adequacy ratio and positive asset liability management enables us to constantly capitalize on emerging opportunities. As we are approaching the end of FY24, we are confident about overachieving our shared guidance of 25%+ AUM growth and are all set to maintain the upward growth trajectory in the coming years, driven by customer additions and expansion into existing and new geographies".

Shares of Satin Creditcare Network Limited was last trading in BSE at Rs. 252.40 as compared to the previous close of Rs. 252.35. The total number of shares traded during the day was 20189 in over 787 trades.

The stock hit an intraday high of Rs. 259.50 and intraday low of 251.00. The net turnover during the day was Rs. 5132110.00.

Source : Equity Bulls

Keywords

SatinCreditcareNetwork INE836B01017 MajorMilestone AUM