BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Microfinance sector, after sailing through one of the most prolonged and uncertain asset quality cycles since 2010, is poised to approach normalcy by H2 FY22E , assuming no third-wave disturbance.
Calibrated growth since the Covid-19 onset, restricted to non-delinquent customers, and prudent recognition of the vulnerable pool would ensure quality growth going ahead.
Systemic asset under management grew 1%, but unique borrower base fell 6%, between March 2020-June 2021.
However, with an improving macroeconomic outlook, players have articulated their intention to accelerate new customer acquisition in H2 FY22e, which will balance out the increasing ticket size.
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