Bajaj Finance May Consider Further Accelerated Provisioning In Q1 FY21

Bajaj Finance Ltd. has marginally expanded its customer base and loan book in the quarter ended June, according to a filing with the exchanges.

The non-bank lender’s Q1 FY21 pre-earnings update said:

• Customer franchise as of June 30 stood at 43.0 million compared to 36.9 million a year ago. The company added 0.5 million new customers in the April-June quarter.
• New loans booked during Q1 FY2I amounted to 1.7 million compared to 7.3 million new loans in the same quarter last year.
• Total assets under management rose 7% year-on-year to Rs 1,38,000 crore. AUM under moratorium has reduced from 27% as of April 30 to 15.5% as of June 30.
• Consolidated liquidity surplus was approximately Rs 17,600 crore and capital adequacy ratio stood at 26.4% as of June 30.
• Deposit book up 33% at Rs 20,000 crore over the same period last year, and AUM up 7% at Rs 1,38,000 crore, on a year-on-year basis.

Bajaj Finance said it “may consider additional accelerated provisioning for Covid-19 in Q1 FY2I as well to further strengthen its balance sheet.“