Gurgaon, 26th February 2024: CreditAccess Grameen Limited (NSE: CREDITACC, BSE: 541770, ‘CA Grameen’), the country’s largest Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI) crosses the landmark of INR 25,000 crore AUM in the 25th year of inclusive journey. The AUM as on 31st March 2023 stood at INR 21,031 crore. The AUM growth is in line with the annual growth guidance of 24-25%, fuelled by robust customer additions.
Mr. Udaya Kumar Hebbar, Managing Director of CreditAccess Grameen, said, “We are gratified to witness the achievement of this major milestone as nearing completion of CA Grameen’s 25th year of business operations, playing a pivotal role in advancing the financial inclusion agenda at such a large scale. Our customer-centric approach differentiated business model, robust balance sheet, and strong organisational culture have helped us to scale to new heights. The vast rural growth potential bodes well for our business as we continue to cover the length and breadth of the country to be the preferred financial partner to low-income households. We are positive of continuing our growth journey sustainably by leveraging the strength of being the lowest cost lender in the microfinance industry.”
Mr. Ganesh Narayanan, Chief Executive Officer of CreditAccess Grameen, remarked, “We remain steadfast in our commitment to add value at every phase ensuring consistent performance across all core parameters. We continue to strive for excellence through our unique approach to bridging the inclusion gap. In line with our philosophy of evolving with customers, we have now scaled our retail finance book to over INR 600 crore.”
About CreditAccess Grameen Limited
CreditAccess Grameen Limited is a leading Indian microfinance institution headquartered in Bengaluru, focused on providing micro-loans to women customers predominantly in rural areas across India. As of December 2023 end, the Company is operating across 367 districts in 16 states (Andhra Pradesh, Bihar, Chhattisgarh, Goa, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh & West Bengal) and one union territory (Puducherry) through 1,894 branches. The Company’s Promoter is CreditAccess India B.V., a multinational company specializing in micro and small enterprise financing. It is backed by institutional investors and has a micro-lending experience in India of more than a decade.
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