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CreditAccess Grameen conducted a conference call on 19 July 2024 to discuss the financial results for the quarter ended June 2024. Udaya Kumar Hebbar, MD of the company addressed the call:
Highlights:
The company has continued to maintain consistent performance in return ratios delivering RoA above 5% and RoE above 20% for the sixth consecutive quarter.
The company continues to be the lowest-cost lender to customers with yield at 21%.
The company has strengthened underwriting standards by aligning the ECL provisioning policy based on district-specific risk and customer vintage, improving from earlier state-specific criteria. The company is moving to a district-based pricing regime benefiting customers.
The business momentum was impacted due to severe heat wave across several regions and operational limitation during general elections. The first quarter of the financial year is seasonally moderate quarter for the microfinance sector.
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