CreditAccess Grameen Q2 Review - Improved Collections Keep Up Steady Credit Costs: KRChoksey
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KRChoksey Research Report
CreditAccess Grameen Ltd.'s total income for the quarter reported at Rs 3.9 billion. There was a sequential contraction in non-interest income by 29.6% at Rs 21.1 crore while net interest income was reported at Rs 3.7 billion (up 11.5% YoY / up 9.1% QoQ) on account of overall assets under management growth.
Pre-provision profit reported at Rs 2.2 billion. Operating efficiency declined due to higher operating expenses, as cost to income reported at 43.9% as against 42.2% in Q2 FY21.
CreditAccess Grameen's net profit reported at Rs 59.7 crore; return on equity for the quarter reported at 6.2% and return on asset reported at 1.6%.
Gross non performing asset reported at 7.67% for Q2 FY22 as against 7.56% in Q1 FY22.
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