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CreditAccess Grameen disbursements up 25% to Rs 2,257 cr in March

Microfinance lender CreditAccess Grameen on Monday said its total disbursements in March 2022 rose 25 per cent to Rs 2,257 crore. The company’s disbursements were of Rs 1,806 crore in the year-ago same month. In February 2022, CA Grameen had disbursed Rs 1,746 crore worth loans.

The gross loan portfolio grew 22.2 per cent from a year ago to Rs 16,601 crore in March 2022, the company said in a release.

In a break-up, the company said CA Grameen’s gross loan portfolio (GLP) was up 21.1 per cent year-on-year to Rs 13,732 crore and for Madura Micro Finance Ltd (MMFL), it rose 27.7 per cent to Rs 2,869 crore.

Branch network grew 15 per cent year-on-year to 1,638 branches in March 2022, it said, adding 214 new branches were opened in financial year 2022, primarily across newer markets.

As many as 1,24,787 new borrowers were added during the month. There was cumulative addition of 5,05,300 new borrowers in the last two quarters.

Among others, collection efficiency of the mirco lender stood at 95 per cent (excluding arrears) and 96 per cent (including arrears).

Excluding non-paying NPA (non-performing assets) customers, collection efficiency was 97 per cent (excluding arrears) and 98 per cent (including arrears) in March FY22.

CA Grameen stock settled at Rs 920.25 on BSE, down 0.34 per cent from the previous close. P

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