Bajaj Finance May Consider Further Accelerated Provisioning In Q1 FY21
Sanjiv Bajaj, managing director at Bajaj Finance Ltd.’s parent Bajaj Finserv Ltd., during an interaction with BloombergQuint on the sidelines of WEF Davos 2020. (Photo: BloombergQuint)

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.“

Also read: Bajaj Finance Q4 Results: Profit Falls 20% On Higher Impairment Expenses

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