Nbfc Mfi News Today

The lenders asset quality improved year-on-year but slipped a bit sequentially. Saxena attributed this to the transition from monthly repayment to weekly repayment, which also led to a muted loan disbursement in October. Spandanas gross non-performing assets ratio stood at 1.6% at the end of December 2023 as compared with 5.3% a year ago. Gross NPA was 1.8% at the end of September 2023. Net NPA was 0.5% against 2.5% a year back.

Lower cost structure, higher earnings growth are key positives for this MFI

CreditAccess Gramin’s earnings growth driven by solid fundamentals

IIFL Samasta aims to secure funds of up to ₹1,000 crore through bond issuance, featuring a coupon rate of up to 10.50%.

IIFL Finance, which holds 99% in the microfinance lender, has decided to infuse Rs 200 crore by way of rights issue of 7.5 crore fully paid up equity shares of face value of Rs 10 each at a premium of Rs 16.74 per share. It acquired Samasta in 2017. In the first half of FY24, the NBFC-MFI raised Rs 5,239 crore of debt with about 60% as term loans and another 20% from privately placed bonds.

    business reportermicrofinance industry network (mfin), an umbrella body of microfinance institutions (mfis) of the country, in its report said that nbfc-mfis are the largest provider of micro-credit amongst other regulated entities

Non-banking finance companies-microfinance institutions (NBFC-MFIs) in India have seen a 43% year-on-year growth, allowing them to increase their share of the microfinance market to 41.28%, up from 35% a year ago. The overall gross micro loan portfolio grew 21% to Rs 3.59 lakh crore ($47.8bn) by the end of June. Small finance banks and other non-banking finance companies also saw their micro loan portfolios rise 24% each.

CREDAG, Fusion, and Spandana together have a 27 percent share of the loans in the non-banking financial company-micro finance institution sector

DEG investment would be channelized to further boost the financial inclusion objectives of Annapurna, thereby getting increasing number of women borrowers in rural India, into formal financing eco-system.