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ICRA affirms BBB Credit Rating with Stable Outlook to CASHe Owned NBFC

Published: November 22, 2022

Mumbai (Maharashtra) [India], November 22 (ANI/NewsVoir): India's leading credit-led, AI-driven financial wellness platform, CASHe, today announced that its wholly-owned NBFC, Bhanix Finance & Investment Ltd. (BFIL) has been assigned a [ICRA] BBB (Stable) credit rating from ICRA. The rating covers NCD / MLD / CP and bank facilities and is for an amount of Rs. 1025 crores. Instruments with [ICRA] BBB are considered to have a moderate degree of safety regarding the timely servicing of financial obligations. The company stated that it considers these investment-grade ratings from ICRA as ...

Source: laosnews.net

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United Arab Emirates Dhruv Jain Bhanix Finance Investment Ltd Aeries Financial Technologies Private Limited Investment Limited Pte Ltd Bhanix Finance Chief Executive Office Reserve Bank Mumbai Maharashtra India Ovember 22 Ani Newsvoir India 39s Leading Credit Led I Driven Financial Wellness Platform Oday Announced That Its Wholly Owned Nbfc Hanix Finance Amp Investment Ltd Bfil Has Been Assigneda Icra Bbb Stable Credit Rating From The Covers Ncd Mld Cp And Bank Facilities Is For An Amount Of Rs 1025 Crores Instruments With Are Considered To Havea Moderate Degree Safety Regarding Timely Servicing Financial Obligations Company Stated That It Considers These Grade Ratings As Supportive Its Financing Strategy Committed Maintaining Arrive At Cra Has Takena Consolidated View Of The Credit Profiles Bfil And Its Holding Company Eries Financial Technologies Private Limited Aftpl Iven Their Business Linkages Common Management Nd Operational Synergies Bfil Provides Short Term Unsecured Personal Loans To Salaried Individuals Through The Technology Platform Ith Its Competence Reflected In The Low Turnaround Time And Fully Digitised Process Adequate Capitalisation Rating Factor Bfil 39s For Current Scale Of Operations Over Last Five Years Till Fy2022 Fil Has Received Equity Of Rs 260 Crores From Aftpl With The Last Infusion 142 In Fy2022 Funding Promoters Promoter Owned Entities Further T Has Reporteda Consolidated Net Profit Over The Last Three Years Till Fy2022 That Added To Its Capital Buffer Profitability Supported By Higher Yields At Level Ftpl Reporteda Net Profit During The Last Three Years Fy2020 Fy2022 With Improved Scale Of Operations And Moderation In Credit Costs He Return On Average Managed Assets Roma And Equity Roe Have Improved Icra Noted In Its Report That Bfil 39s Profitability Is Supported By Higher Lending Yields Net Interest Margins Nims Hich Remained Adequate To Cover The Operating Expenses And Credit Costs Liquidity Position Bfil 39s Is With No Negative Cumulative Mismatches In Asset Liability Management Alm Statement As On September 30

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