CreditAccess Grameen displays robust growth in overall portfolio in March 2022; stock jumps ~1%

11 Apr 2022 , 03:12 PM

CreditAccess Grameen Limited, the country’s leading microfinance institution, has announced its business update on key operational indicators for the month of March 2022.

The company has reported a 22.2% yoy growth in its Gross Loan Products (GLP) portfolio, at Rs16,601 crore in March 2022. Out of which, CA Grameen’s GLP stood at Rs13,732 crore, up by 21.1% yoy, and MMFL’s GLP grew 27.7% yoy at Rs2,869 crore.

CA Grameen’s collection efficiency was 96% (excl. arrears)/97% (incl. arrears) in Mar22 compared to 96% (excl. arrears)/97% (incl. arrears) in Feb22. Whereas MMFL’s collection efficiency was 92% (excl. arrears)/94% (incl. arrears) in Mar22 as compared to 91% (excl. arrears)/93% (incl. arrears) in Feb22.

CA Grameen’s disbursements were Rs1,825 crore in March 2022 as against Rs1,400 crore in February 2022. MMFL’s disbursements were Rs432 crore in March 2022 as against Rs346 crore in February 2022.

The company also informed that its Branch network grew by 15.0% YoY to 1,638 branches in March 2022. It added 1,24,787 borrowers were added in March 2022 as against 89,871 borrowers in February 2022.

CreditAccess Grameen is currently trading at Rs928.45 up by Rs5.1 or 0.55% from its previous closing of Rs923.35 on the BSE. Its scrip has touched intraday high and low of Rs949.90 and Rs923 respectively.