CreditAccess Grameen disbursements up 25% to Rs 2,257 crore in March
Microfinance lender CreditAccess Grameen said on Monday that its total disbursements in March 2022 increased by 25% to Rs 2,257 crore.
The company’s disbursements were Rs 1,806 crore in the same month a year ago. By February 2022, CA Grameen had disbursed loans worth Rs 1,746 crore.
The gross loan portfolio increased by 22.2% from a year ago to reach Rs 16,601 crore in March 2022, the company said in a statement.
In a break, the company said CA Grameen’s Gross Loan Portfolio (GLP) grew 21.1% year-on-year to Rs 13,732 crore and for Madura Micro Finance Ltd (MMFL) it had risen by 27.7% to Rs 2,869 crore. .
The branch network grew 15 percent year-on-year to 1,638 branches in March 2022, he said, adding that 214 new branches were opened in fiscal 2022, mostly in new markets.
No less than 1,24,787 new borrowers were added during the month. There has been a cumulative addition of 5,05,300 new borrowers over the past two quarters.
Among other things, the collection efficiency of the microlender was 95% (excluding arrears) and 96% (including arrears).
Excluding non-paying NPA (non-performing assets) customers, collection efficiency was 99% (excluding arrears) and 100% (including arrears) in March FY22.
Shares of CA Grameen settled at Rs 920.25 on the BSE, down 0.34% from the previous close.