CreditAccess Grameen collections improve to 94% in Jan-Mar quarter

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Mumbai, Apr 12 (FN Agency) Non-banking financial company CreditAccess Grameen Monday said its collection efficiency has improved to 94 per cent in the March 2021 quarter from 91 per cent at December-end 2020. The year-on-year and quarter-on-quarter consolidated loan disbursement rose by 42 per cent and 3 per cent, respectively, to Rs 4,726 crore in the March 2021 quarter, a release said.

The lender’s subsidiary Madura Microfinance also saw collection efficiency increasing to 90 per cent in March 2021 from 86 per cent in December 2020. The number of women customers fully paying their loan instalments, rose to 92.4 per cent in the last quarter of FY2020-21 for the company, as compared to 88.1 per cent in December 2020. ‘The percentage of women customers not paying their EMIs, for the company, has come down to 4.4 per cent in March 2021 as compared to 5.1 per cent in December 2020,’ it said.

It added 2.88 lakh new borrowers on a consolidated basis during the fourth quarter. The lender’s consolidated gross loan portfolio too has increased y-o-y by 16 per cent and q-o-q by 13 per cent to Rs 13,878 crore. The overall portfolio at risk (PAR) for 30 days, 60 days and 90 days, too saw a gradual decline to 6.6 per cent, 5.9 per cent and 5.4 per cent, respectively, as of March 31, 2021. Madura Microfinance’s overall PAR for 30 days, 60 days and 90 days, declined to 9.7 per cent, 6.7 per cent and 4.7 per cent, respectively, at March-end. The lender’s restructured book stood at Rs 75 crore, 0.6 per cent of the gross loan portfolio as of March 2021, the release said.

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