Monthly Update5 Apr 2024, 12:27 am
Bajaj Finance's Customer Base Expands by 14.5% YoY, New Loans Grow by 4% in Q4 FY24
AI Summary
Bajaj Finance Limited reported a significant expansion in its customer base, with 83.64 million customers as of March 31, 2024, compared to 69.14 million in the same period last year. The quarter also saw new loans increase by 4%, amounting to 7.87 million. However, new loans were lower by 0.80 million due to RBI restrictions on ‘eCOM' and ‘Insta EMI Card'. The company's assets under management grew by 34% to approximately 330,400 crore, with a consolidated net liquidity surplus of approximately 15,700 crore. Deposits booked saw a substantial growth of 35% to 60,100 crore.
Key Highlights
- Customer base expanded by 14.5% YoY, reaching 83.64 million as of March 31, 2024.
- New loans increased by 4% in Q4 FY24 to 7.87 million.
- Restrictions from RBI led to a decrease of 0.80 million in new loans.
- Assets under management grew by 34% to 330,400 crore.
- Deposits booked saw significant growth of 35% to 60,100 crore.