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Fedbank Financial Services conducted a conference call on 19 July 2024 to discuss the financial results for the quarter ended June 2024. Anil Kothuri, MD & CEO, Fedbank Financial Services of the company addressed the call:
Highlights:
The company caters to small enterprises providing easy access to loans in the gold loans and mortgage loans.
The company has recorded strong 8% or 996 crore growth in AUM during Q1FY2020. The AUM has surged 40% yoy to Rs 13188 crore end June 2024.
The AUM growth was driven by the gold loan book rising 15% qoq and 46% yoy to Rs 4532 crore, supported by increase in gold prices. The gold tonnage has increased by 23% yoy end June 2024. Gold loan book has increased by Rs 590 crore in Q1FY2025.
The company is progressing well on its off book strategy which has witnessed an increase in share to 20.7% from 18.7% last year.
The RoA stood at 2.4% and RoE at 12.3% for Q1FY2025.
The...
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