Private lender, Bandhan Bank’s microloan disbursements between March and June fell by 84% from Rs 19948 crore in March to Rs 3110 crore in June, a decline of Rs 16838 crore between the two quarters. On a YoY basis, microloan disbursements fell by almost 75%, having disbursed Rs 12320 crore to its microloan borrowers in June 2019.Bandhan Bank in the first quarter of FY21 said collection efficiency for microloans, which as of April was reported to be zero, improved to 70% by the first week of July. The lender further said 68% of its borrower profile was now classified as paying, whilst however not specifying if the payments were full or part payments. Notably, five percent of the borrower profile had also availed for an additional loan. On an overall basis, Bandhan Bank said its collection in value increased to 76%, from 29% reported earlier.The lender also reported a 6.2% increase in deposits from Rs 57100 crore in March to Rs 60600 crore in June. 61% of the Rs 743.1 crore disbursements in the first quarter of FY21 consisted of the bank’s micro loan book. The number of micro loan borrowers for Bandhan Bank also increased marginally from 11.14 million… Read full this story
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