Q4 2024 CreditAccess Grameen Ltd Earnings Call Transcript
Key Points
- CreditAccess Grameen Ltd (BOM:541770) achieved a significant milestone by surpassing the INR25,000 crores AUM mark in its Silver Jubilee year.
- The company reported a strong AUM growth of 25% YoY and 14.2% QoQ, reaching INR26,714 crores.
- Customer base grew by 15.3% YoY and 4.8% QoQ, with over 13.5 lakh new customers added during FY24.
- Net interest income in Q4 FY24 grew by 33.7% YoY to INR922 crores, maintaining a stable cost of borrowing at 9.8%.
- The company has a high customer retention rate of 88%, indicating strong customer loyalty and affiliation with the brand.
- Credit costs increased to 2.06% in FY24, with a guidance of 2.2% to 2.4% for FY25, indicating potential higher provisioning and risk in new markets.
- There was a slight increase in PAR portfolios across buckets, with a 20 bps rise attributed to flood impacts and other factors.
- The company faces higher credit costs in non-core markets due to higher provisioning for standard assets.
- The cost-to-income ratio, while healthy, is expected to remain range-bound at 30% to 31%, indicating limited scope for further reduction.
- The company anticipates maintaining a stable cost of borrowing, which may not decrease significantly unless there are major changes in RBI or FED policies.
Ladies and gentlemen, good day, and welcome to CreditAccess Grameen Q4 FY24 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Nidhesh Jain. Thank you, and over to you, sir.
Thank you, Sagar. Welcome to the quarter four FY24 earnings conference call of CreditAccess Grameen Limited. To discuss the financial performance of CreditAccess Grameen and to address your queries, we have with us today Mr. Udaya Kumar Hebbar, MD of CreditAccess Grameen; Mr. Ganesh Narayanan, CEO of CreditAccess Grameen; Mr. Balakrishna Kamath, CFO; and Mr. Nilesh Dalvi, SVP and Head, Investor Relations.
I would now like to hand over the call to Mr. Udaya Kumar Hebbar for his opening comments. Over to you, sir.
Thank you, Nidhesh. Good evening, everyone, and we welcome you to join the conference call to discuss our fourth
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