CreditAccess Grameen reports 19% rise in Q2 disbursements
In short
CreditAccess Grameen said its disbursements rose 19% year on year to Rs 6,355 crore in Q2. Retail finance AUM was Rs 7,200 crore, up from Rs 6,258 crore in the first quarter, and the secured loan book rose 18% to Rs 695 crore.
The numbers show the business is growing. The reports do not say what caused the increase or whether earnings will improve.
What the reporting says
CreditAccess Grameen reported a 19% year-on-year rise in disbursements to Rs 6,355 crore in its Q2 update, while retail finance AUM stood at Rs 7,200 crore versus Rs 6,258 crore in the first quarter. The secured loan book also grew 18% sequentially to Rs 695 crore. The reporting does not state what drove the growth or how it may affect profitability.
Why it matters
CreditAccess Grameen reported Q2 disbursements of Rs 6,355 crore, up 19% year on year, with retail finance AUM at Rs 7,200 crore compared with Rs 6,258 crore in the first quarter. Its secured loan book grew 18% sequentially to Rs 695 crore. The reporting indicates expansion in lending activity, but it does not say what drove the gains or the effect on profit.