CreditAccess Grameen Limited announces business update for November, check highlights here

187 new branches have been opened up by the company over the past 12 months.

CreditAccess Grameen Limited has announced its business update for the month of November, on 16 December 2021. According to the data, the company’s gross loan portfolio grew by 18.0% YoY to INR 14,071 crore in Nov-21. Its consolidated disbursements stand at pre-COVID levels of INR 1,505 crore. This recovery could be linked to the customer confidence in the company.

187 new branches have been opened up by the company over the past 12 months. Total branches now stand at 1,575 which is a network growth of 13.5%. November recorded 59,930 new borrowers leading to a total cumulative addition of 2,59,662 new borrowers since July’21. Asset Quality at MMFL was largely stable with minor slippages due to the TN floods. 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). These PAR levels are expected to reduce over the upcoming months.

“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,” reported the company.

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