Banks witnessed highest POS growth of 23% Y-o-Y
The Indian microfinance industry portfolio have shown outstanding (POS) growth of 16% from Dec’19 to Dec’20, according to the eighth edition of “Microfinance Plus”, a quarterly publication by Small Industries Development Bank of India (SIDBI) and Atlanta-headquartered Equifax.
Banks witnessed the highest Y-o-Y growth in POS of 23% across all the lenders from Dec’19 to Dec’20, said the report released on 27 April 2021.
Disbursement by amount grew by 84% and number of loans disbursed grew by 97% in OND’20 quarter as compared to previous quarter.
The 0K-10K ticket size loans have registered highest Y-o-Y growth of 240% from OND’19 to OND’20 quarters.
Industry 1+ delinquencies show a peak in Dec’20 at 21%.
Top 5 states contribute 55% to Pan India portfolio (West Bengal, Tamil Nadu, Bihar, Karnataka & Maharashtra).
West Bengal is contributing highest at 15% towards total portfolio outstanding.
In a tough year, the microfinance industry stood its ground, said K M Nanaiah, Managing Director, Equifax Credit Information Services Ltd. and Country Leader, Equifax India and MEA.
The eighth edition of Microfinance Pulse report in collaboration with SIDBI provides cutting edge analysis to address key questions of practitioners and policymakers.
Equifax (NYSE: EFX) is a global data, analytics, and technology company and supported by more than 11,000 employees worldwide. It operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region.
Since its formation in 1990, SIDBI has been impacting the lives of citizens across various strata of the society through its integrated, innovative and inclusive approach. #banking #investment #portfolios #economy /fiinews.com
