Bharat Financial Inclusion Limited, the largest microfinance company in India, today announced a 46% year-on-year growth (12% quarter-on-quarter growth) in its Gross Loan Portfolio to Rs. 15,482crore in Q2-FY19 (Rs. 10,583crore in Q2-FY18, Rs. 13,832 crores in Q1-FY19).
Inclusion Limited registered a 31% year-on-year growth in the number of customers
to 82.73 lakh (from 63.36 lakh customers in Q2-FY18).
Inclusion Limited’sGross Loan Portfoliogrowth of 46% year-on-year is primarily
driven bycustomer acquisition. The customer base grew by 31% year-on-yearwith
the addition of 10.5 lakh customers in
Q2-FY19.”said M.R. Rao,
CEO and Managing Director, Bharat Financial Inclusion Limited.
The Company’s loan
disbursements have shown a 64% year-on-year growth and a 13% quarter-on-quarter
growth to Rs. 7,049 crore in Q2-FY19 (Rs.
6,260 crore in Q1-FY19 and Rs. 4,288 crore in Q2-FY18).
Inclusion Limited registered a 42% year-on-year growth in incremental drawdowns
to Rs. 3,587 crore in Q2-FY19 (Rs. 2,529 crore in Q2-FY18) including
securitization and assignment transactions.The Company also originated Rs. 1,491crore under managed portfolio and completed two
assignmenttransactions and one securitization transaction of Rs.1,354 crore and
Rs. 539 crore respectively in Q2-FY19.
quarter, marginal cost of borrowings stood at 8.7%.
The Company had a net worth of
Rs. 3,602 crore (higher by Rs. 117 crore incomparison to
GAAP net worth) and a capital adequacy of 31.3% as
of September 30, 2018 (compared to the RBI requirement of 15% capital
adequacy). Cash and cash equivalent stood at Rs. 302 crore as of
September 30, 2018.
Financial Inclusion Limited has no exposure to money market instruments such as
CPs and NCDs.
Company has a positive Asset-Liability gap for all intervals up to one year. Bharat
Financial Inclusion Limited’sassets maturity is 6.5 months while liabilities
maturity is 8 months as on September 30, 2018.
The Company registered a cumulative
collection efficiency of 99.6% for loans disbursed between January 1, 2017 and September
30, 2018 amounting to Rs. 35,683crore. Gross NPA (>60 days overdue) and Net
NPA stood at 0.4% and 0.1% respectively in Q2-FY19.
As per Ind AS, Bharat Financial
Inclusion Limited’s profit after tax for Q2-FY19 is Rs.233crore (Rs. 142 crore in Q1-FY19 and Rs. 135 crore
in Q2-FY18). As per previous GAAP, profit after tax for Q2-FY19 is Rs. 212 crore (Rs. 190 crore in Q1-FY19 and Rs.
119 crore in Q2-FY18)
The Company reported a deferred tax
asset of Rs.32crore and a MAT credit of Rs. 178crore as on September 30, 2018.
About Bharat Financial
Inclusion Limited is among the largest microfinance companies in India with
presence across 18 states covering 1,00,000 villages. The states include:
Karnataka, Maharashtra, Odisha, Madhya Pradesh, Bihar, Uttar Pradesh,
Rajasthan, Uttaranchal, Haryana, West Bengal, Jharkhand, Chhattisgarh, Kerala,
Punjab, Himachal Pradesh,Delhi,Tripura and Tamil Nadu. The Company’s mission is
to provide financial services to the economically weaker sections.