Microfinance lender CreditAccess Grameen Ltd. on Monday said its total disbursements in March 2022 rose 25% to Rs 2,257 crore.
The company’s disbursements were of Rs 1,806 crore in the year-ago same month. In February 2022, CA Grameen had disbursed Rs 1,746 crore worth loans.
The gross loan portfolio grew 22.2% from a year ago to Rs 16,601 crore in March 2022, the company said in a release.
In a break-up, the company said CA Grameen’s gross loan portfolio was up 21.1% year-on-year to Rs 13,732 crore and for Madura Micro Finance Ltd., it rose 27.7% to Rs 2,869 crore.
Branch network grew 15% year-on-year to 1,638 branches in March 2022, it said, adding 214 new branches were opened in financial year 2022, primarily across newer markets.
As many as 1,24,787 new borrowers were added during the month. There was cumulative addition of 5,05,300 new borrowers in the last two quarters.
Among others, collection efficiency of the mirco lender stood at 95% (excluding arrears) and 96% (including arrears).
Excluding non-paying Non-Performing Assets customers, collection efficiency was 97% (excluding arrears) and 98% (including arrears) in March FY22.
CA Grameen stock settled at Rs 920.25 on BSE, down 0.34% from the previous close.
. Read more on PTI by BloombergQuint.