Creditaccess Grameen

Shares of NBFCs, MFIs rally up to 15% as RBI reduces risk weight on loans

CreditAccess, L&T Fin, RBL Bank, Poonawalla Fincorp, Five-Star Business Finance, Ujjivan SFB, Shriram Finance, Cholamandalam, M&M Financial, AU SFB and Bandhan Bank were up in the range of 4% - 15%.

CreditAccess Grameen shares soar 10% on Jan 2 on heavy volume

CreditAccess Grameen shares: Spandana Sphoorty share price gained 3.6 per cent intraday today; Equitas Small Finance Bank 2.2 per cent; IndusInd Bank 1.9 per cent; and Ujjivan SFB 1 per cent

Nifty 500 index year-end review: Top wealth creators and destroyers of 2024

Among the standout performers, GE Vernova T&D India surged a staggering 318.2 percent, closing at Rs 2,104.9 on December 24. KFin Technologies also made a giant leap, climbing 206 per cent to Rs 1,477

CreditAccess Grameen cracks 12% on heavy volume amid asset quality concerns

Thus far in the calendar year 2024, the market price of CreditAccess Grameen has plunged 46 per cent, as compared to 10 per cent rally in the BSE Sensex.

CreditAccess Grameen share price hit 52-wk low on weak Q2 disbursements

The fall in CreditAccess Grameen share price came after the company's disbursements dropped 19% annually to Rs 4,004 cr in Q2FY25, from Rs 4,966 crore in Q2FY24.

Why have microfinance stocks hit 52-week lows today? Check details here

The microfinance industry is currently facing a significant rise in delinquencies, primarily driven by increasing borrower indebtedness, apart from other factors.

Nomura ups target for Bajaj duo, M&M Fin, says rate cut positive for NBFCs

Regarding the implications of a rate cut for NBFCs, analysts noted that asset composition is more crucial than liability composition.

CreditAccess Grameen up for sale: Dutch owner seeks $2.7 billion valuation

The Amsterdam-based CreditAccess India B V holds a 66.56% stake in CreditAccessGrameen, and is aiming for a valuation of around $2.7 billion in the potential deal

Have restrained ourselves from taking SFB route: CreditAccess Grameen MD

Hebbar tells that it is diversifying its loan portfolio by increasing the share of non-micro loans and the liability book by raising funds internationally

5 reasons why Goldman Sachs is bullish on CreditAccess Grameen

Despite a slight decline earlier in the year, the stock has soared by an impressive 58.19 per cent over the past year

CreditAccess Grameen hits new high; soars 13% on strong Q2 results

In Q2, the company's net profit nearly doubled to Rs 347 crore, on the back of an improved income profile and strong control on the cost of operations.

Creditaccess Grameen Q2 results: Net profit nearly doubles to Rs 347 cr

Creditaccess Grameen on Friday said its net profit nearly doubled to Rs 347 crore in the September quarter, registering an on-year growth of 98.1 per cent driven by higher loan sales and resultant income. The country's largest microfinance lender said its total income increased 53.2 per cent to Rs 1,247.6 crore, boosted by a 49.6 per cent jump in net interest income to Rs 772 crore. The loan book rose 36 per cent to Rs 22,488 crore, while the borrower base grew 21.2 per cent to 46.03 lakh across 1,877 branches and collection efficiency improved to 98.7 per cent. Credit loss provisions declined 9 per cent from Rs 105.4 crore to Rs 95.9 crore, during the reporting quarter and the total expected credit loss provisions stood at Rs 343.2 crore or 1.60 per cent of the assets. Gross NPAs declined steeply to 0.77 per cent from 2.17 per cent, and net NPAs fell to 0.24 per cent from 0.77 per cent. During the quarter, the lender wrote-offs Rs 76.5 crore of loans. Its capital position remain

CreditAccess Grameen expects around 25% growth on loan sales in FY24

The largest microfinance lender CreditAccess Grameen is expecting around 25 per cent on-year growth in loan sales, taking the overall assets to around Rs 27,000 crore this fiscal. The company closed FY2022-23 with a loan book of Rs 21,000 crore and a net income of Rs 830 crore, which it expects to jump 75 per cent on year to Rs 1,300-1,400 crore this fiscal, as it expects the margin to continue to firm at the current level of 10-12.5 per cent, the microlender's managing director Udaya Kumar Hebbar told PTI on Tuesday. In the June quarter, it booked 151.5 per cent growth in net income at Rs 348 crore on lower provisioning as the asset quality improved. Overall loan book of the Bengaluru-based lender grew 39.7 per cent to Rs 21,814 crore from Rs 15,615 crore a year ago and Rs 21,000 crore in March 2023. Total income rose 53.9 per cent to Rs 1,170.7 crore, and the key net interest income rose 65.4 per cent to Rs 763.3 crore. CreditAccess Grameen started off as an NGO, T Muniswamappa .

Stocks to Watch: BPCL, PowerGrid, ATGL, ICICI Bank, T D Power, CreditAccess

Stocks to Watch on June 30, 2023: MCX has extended the support services deal with its software vendor 63 Moons Technologies; BPCL's board approved raising up to Rs 18,000 crore via rights issue

CreditAccess Grameen syndicates social loan facility of up to $200 mn

CreditAccess Grameen, Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), on Tuesday said it has signed a historic syndicated social loan facility of up to USD 200 million (about Rs 1,640 crore). This will qualify as External Commercial Borrowing (ECB) under the automatic route of the RBI, the company said in a statement. The company has received USD 160 million in commitments to date, along with a green-shoe option to raise an additional USD 40 million, exercisable over 120 days from the date of signing of the facility agreement, it said. It has currently drawn USD 100 million, and the remaining commitments would be drawn over the coming months, it added. The social loan shall abide by the company's social loan framework which aligns with the Social Loan Principles 2023, stipulating the use of proceeds, social development goals and governance, according to the loan market association, it added.

Fusion Micro, Spandana: Rally in MFI stocks has more legs, say analysts

Analysts expect the sector to see strong loan growth in FY24 and FY25 driven by increase in ticket sizes, strong customer acquisitions, and regulatory tailwinds

CreditAccess Grameen surges 9%, hits new high on strong Q4 earnings

For FY24, the management has said that the company is sanguine to achieve a growth of 24%-25% in the gross loan portfolio, NIMs of 12%-12.2% with a steady state credit cost of 1.6%-1.8%

CreditAccess Grameen rallies 6% on hopes of strong earnings growth

Analysts believe the company is well positioned to capture huge untapped opportunity in MFI space via deeper penetration in new, existing geographies and increase in customer base.

CreditAccess Grameen to raise Rs 15 crore via ECBs, says MD Udaya Kumar

Additionally, its public issue of non-convertible debentures (NCDs) worth up to 5 billion Indian rupees ($61.4 million) will launch on Nov. 14

Vinay Rajani of HDFC Securities sees support for Nifty around 17,400-17,150

Among individual stocks, the technical analyst is bullish on HG Infra and CreditAccess Grameen.