ICICI Securities: MFI Showing Strong Resilience; Collections At Approximately 90% In September
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ICICI Securities Report
In earlier reports in this series, our focus was more on moratorium trends, branch openings and revival of centre meetings; however, with collections settling at approximately 90% in September 2020 as expected and non-paying customer pool at ~8%, we shift our focus to granular state-wise details of collection, potential restructuring, customer activation and disbursement rebound across players.
Further, taking cognisance of tailend risk, lenders have adequately built provision buffers between 9% down 3% (excluding small finance banks) as at September 2020.
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