Banking Sector

FIH has a 49.72% share in the bank as of March 31, 2024, which will be reduced to almost 40% following the stake sale.

The bank plans to include a special resolution for this potential fundraising in its upcoming Annual General Meeting (AGM) notice.

At the end of the March quarter, Asia Asia Opportunities V held a 9.88% stake in the company, while General Atlantic Singapore Fund held 9.22%.

According to a filing on the exchange, Shriram Finance raised $425 million and Euro 40 million in a syndicated term loan deal.

The approval of the Reserve Bank of India and the Department of Financial Services, Government of India, is mandatory for the same.

In FY24, gold loan assets increased by ₹11,003 Crore, or 18%. Gold loan assets climbed by ₹3,657 Crore, a 5% increase over Q4FY23.

In Q4FY24, disbursements increased by 11% to ₹6,681 Crore, while yearly disbursements grew by 17% to ₹23,389 Crore.

The bank's standalone Return on Assets (ROA) for FY24 was 2.61%, while in Q4 it was 2.97%. The Return on Equity (ROE) for FY24 was 15.34%.

Banerjee stated that the bank currently has no intentions to make more investments in AIFs. The lender had set aside ₹627 Crore for AIF investments.

Its net interest margin (NIM) was 4.26%, compared to 4.28% in Q4 FY23 and 4.29% in Q3 FY24.