CreditAccess Grameen - Accelerated Provisioning Affects Bottom-Line In Q3: KRChoksey
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CreditAccess Grameen Ltd.’s Q3 FY21 loss reported at Rs 79.5 crore (down 173.7% YoY/down 193.1% QoQ); as management has taken stringent measures with overall credit costs at approximately 2.5% for the quarter.
Gross loan portfolio reported at Rs 123.2 billion (39% YoY, 10% QoQ) for Q3 FY21 and number of borrowers grew at 39.1 lakh (41% YoY, 1% QoQ) as against 38.8 lakh/27.7 lakh as on September 2020/December 2019, respectively.
Net interest income reported at Rs 3.03 billion (up 0.8% YoY/down 8.3% QoQ) due to lower pricing in the industry while there was a growth in non-interest income by up 116.2% YoY/up 53.3% QoQ to Rs 14.7 crore.
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