CreditAccess, Suryoday post double-digit loan growth in December

Kolkata: CreditAccess Grameen, India’s largest NBFC-MFI, said its gross loan portfolio rose 19.4% year-on-year to Rs 12,180 crore at the end of December 2021 in a reflection of the steadying microfinance sector amid a recovery in economic activities before the third wave of Covid-19.

It disbursed Rs 1,485 crore in December, higher than Rs 1,237 crore loans given in the preceding month, according to provisional numbers released by the company.

Suryoday Small Finance Bank said its gross loans rose 27% to Rs 4,966 crore while its quarterly loan disbursement jumped 43% to Rs 1,121 crore. Its deposits however shrank 5% to Rs 3,170 crore.


CreditAccess’s subsidiary, Madura Micro Finance, which is in the process of getting merged with itself, saw gross loan portfolio rising 13.6% to Rs 2,407 crore. The parent company has recently infused Rs 250 crore in Madura to ensure its growth before the eventual merger.