CreditAccess Grameen Crosses a Major Milestone: INR 20,000 crore Assets under Management (AUM)
Pune, 15th March 2023: CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770, ‘CA Grameen’), the country’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI) crosses a major milestone of INR 20,000 crore AUM. The AUM of the Company as on December 31, 2022 was INR 17,786 crore.
CA Grameen has been demonstrating robust business momentum since June 2022, after being at the forefront of adhering to RBI’s revised microfinance guidelines during April – May 2022. CA Grameen has already added over 3.7 lakh new borrowers during Q4 FY23 till date, significantly higher compared to 2.8 lakh and 3.0 lakh new borrowers added during Q2 FY23 and Q3 FY23 respectively. The Company has disbursed over INR 5,000 crore during Q4 FY23 so far, as against INR 4,375 crore and INR 4,847 crore during Q2 FY23 and Q3 FY23 respectively. In Q4 FY23, CA Grameen opened 30 new branches and planning to open another 34 branches leading to a total branch network of 1,782 across 14 states and 1 union territory by March 31, 2023.
Commenting on the achievement, Mr. Udaya Kumar Hebbar, MD and CEO of CreditAccess Grameen, said, “Achieving INR 20,000 crore AUM is an important milestone in our growth journey. On the back of our strong balance sheet, superior asset quality, and expansive presence across India, we are well-placed to drive the financial inclusion agenda and further cement our position as the preferred financial partner to millions of underserved low-income households. We are confident of achieving our FY23 performance guidance of 24-25% AUM growth, 4.0-4.2% ROA and 16.0-18.0% ROE. We are geared towards maintaining consistent portfolio growth in the coming years driven by customer growth and expansion into contiguous districts. Our differentiated operating model, customised product offerings, scalable technology stack, customer & employee-centric approach, and diversified liability profile will be guiding principles for the future.”