CreditAccess Grameen post strong business growth, improvement in asset quality

Business Update: December 2021 - Strong Business Growth Momentum Coupled With Consistent Improvement in the Asset Quality

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 December 2021.

Key Operational Indicators: December 2021

• Consolidated Gross Loan Portfolio (GLP) grew by 18.4% YoY to INR 14,587 crore in Dec-21
• CA Grameen: GLP grew by 19.4% YoY to INR 12,180 crore
• MMFL: GLP grew by 13.6% YoY to INR 2,407 crore
• Consolidated disbursements of INR 1,845 crore in Dec-21 (vs. INR 1,505 crore in Nov-21)
CA Grameen: Disbursements were INR 1,485 crore in Dec-21 compared to INR 1,237 crore in Nov-21
• MMFL: Disbursements were INR 360 crore in Dec-21 compared to INR 268 crore in Nov-21
• Consolidated branch network grew by 14.7% YoY to 1,593 branches in Dec-21. 204 new branches opened in the calendar year 2021, primarily across newer markets
• 90,505 new borrowers added in Dec-21 (vs. 59,930 in Nov-21) on a consolidated basis. Cumulative addition of 3,50,167 new borrowers since Jul-21
• Collection Efficiency at CA Grameen: Improved to 95% (excl. arrears)/98%(incl. arrears) in Dec-21 compared to 94.3% (excl. arrears)/97% (incl. arrears) in Nov-21. Excluding the non-paying NPA customers, Collection Efficiency in Dec-21 was 98% (excl. arrears)/101% (incl. arrears)
• Collection Efficiency at MMFL: Improved to 89% (excl. arrears)/91% (incl. arrears) in Dec-21 compared to 87% (excl. arrears)/89% (incl. arrears) in Nov-21. Excluding the non-paying NPA customers, Collection Efficiency in Dec-21 was 91% (excl. arrears)/94% (incl. arrears)
• Asset Quality at CA Grameen: Saw an improvement in Dec-21 - PAR 0: 6.8% (vs. 9.1% in Nov-21), PAR 30: 5.6% (vs. 7.4% in Nov-21), PAR 60: 4.8% (vs. 6.4% in Nov-21), PAR 90: 4.2% (vs. 5.6% in Nov-21). INR 134.9 crore was written off in Dec-21 by CA Grameen
• Asset Quality at MMFL: Saw an improvement in Dec-21 - PAR 0: 16.5% (vs. 20.2% in Nov-21), PAR 30: 11.1% (vs. 14.0% in Nov-21), PAR 60: 8.6% (vs. 11.2% in Nov-21), PAR 90: 6.9% (vs. 9.3% in Nov-21). The PAR levels are expected to further reduce over coming months. INR 55.7 crore was written off in Dec-21 by MMFL

The numbers mentioned above as on 31 December 2021 are provisional unaudited numbers. It is subject to review by the Audit Committee, Board of Directors and are also subject to limited review by the Statutory Auditors of the company.

Shares of CREDITACCESS GRAMEEN LIMITED was last trading in BSE at Rs. 569.95 as compared to the previous close of Rs. 575.45. The total number of shares traded during the day was 12398 in over 1033 trades.

The stock hit an intraday high of Rs. 580.00 and intraday low of 567.60. The net turnover during the day was Rs. 7104758.00.

Source : Equity Bulls

Keywords

CREDITACCESSGRAMEEN INE741K01010 MFI OperationalUpdate BusinessUpdate December2021 Microfinance