'CreditAccess Grameen conducted a conference call on 25 October 2024 to discuss the financial results for the quarter ended September 2024. Udaya Kumar Hebbar, MD of the company addressed the call:
Highlights:
The microfinance sector is witnessing enhanced delinquencies due to factors such as localized disruptions in repayments caused by 3rd party interventions, repayment challenges due to tight liquidity and cash flows / income variations faced by customers and transient impact of heavy rainfall in certain geographies.
The loan growth has moderated and disbursements declined due to seasonally weaker Q2 caused by rains, additional guardrails introduced by MFIN and focus on controls and recoveries.
The asset under management of the company increased at 12% to Rs 25133 crore end September 2024. The microfinance loan book rose 9% to Rs 24188 crore, while the retail finance grew at a strong pace to Rs 945 crore end September 2024.
The customer base...
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