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It has revised its loan growth guidance to 7%-8% from 23%-24% to 8%-12% in October 2024.
It has also revised credit cost from 2.2%-2.4% to 4.5%-5% in October 2024 to 6.7%-6.9% now.
CreditAccess Grameen has revised its return on assets as well to 2.3%-2.4% from 5.4%-5.5% to 3%-3.5% in October 2024.
Its return on equity has been revised to 9.5%-10% from 23%-23.5% to 12%-14% in October 2024.
It had revised its cost to income ratio from 30%-31% to 30%-32% in October 2024 and has maintained the same for now.
Its net interest margin was revised from 12.8%-12.9% to 12.8%-13% in October 2024 and it remains as well.
CreditAccess Grameen shares ended 5.88% lower at ₹914.15 apiece on Friday, January 24. The stock has fallen 28.08% in the past six months and 42.56% in the past year.
The microfinance lender reported a net loss of ₹99.5 crore for the third quarter that ended December 31, 2024. The loss was due to early risk recognition, conservative provisioning, and accelerated write-offs, positioning the company for normalised growth and profitability in the coming quarters.
In the corresponding quarter of the previous fiscal, CreditAccess Grameen posted a net profit of ₹353.4 crore. Net interest income (NII) of the lender grew 6.4% year-on-year to ₹905.5 crore against ₹850.7 crore in the same period of the previous fiscal.
CreditAccess Grameen reported a 6.1% YoY growth in its assets under management (AUM), which increased from ₹23,382 crore to ₹24,810 crore. The borrower base expanded by 2.4% YoY to 48.05 lakh, while the branch network grew by 8.7% to 2,059 branches.