Motilal Oswal: NBFC Turnaround In Sight; Growth To Be Muted; Asset Quality Hit Manageable
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Motilal Oswal Report
We attended Crisil’s annual seminar on the non-banking financial companies, which covered discussions on aspects concerning growth, liabilities, and the asset quality outlook for the sector.
From flattish asset under management in FY21, the NBFC sector is likely to see a rebound in growth to 5-6% YoY in FY22.
However, this would be driven by the top five NBFCs alone. Excluding these NBFCs, the sector is likely to witness flattish AUM in FY22 as well.
Home loans and gold loans remain the key growth drivers with AUM growth in the high single digits and low teens, respectively.
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