Kreon Finnancial zooms ~5% on logging 351% y-o-y jump in August 2022 loan disbursals

5 Sep 2022 , 11:48 AM

Kreon Finnancial Services Limited informed that its loan distribution business consistently witnessed accelerated growth with disbursements through its platform.

The number of loans disbursed in August 2022 jumped 348.13% year on year, while the value of loans disbursed climbed 350.67% on a y-o-y basis.

Furthermore, the company continues to anticipate sufficient growth and upsell prospects in this industry and is focused on book quality.

The StuCred App continues to see increased and new records in user engagement, with the average monthly transacting users (MTU) for the month of August 2022 increasing by 238% year on year.

The company further stated that to keep with its mission, it has launched the StuCred Alumni programme on its app.

StuCred Alumni is a unique service in which StuCred attempts to support its users after they have graduated. Company’s Alumni users will have improved access to credit in order to meet their needs and continue their financial literacy efforts.

At around 11.52 AM, Kreon Finnancial was trading at Rs65.05 up by 4.92% from its previous closing of Rs62 on the BSE. The scrip opened at Rs59 and touched intraday high and low of Rs65.05 and Rs59 respectively.

For feedback and suggestions, write to us at [e-mail]