The Non-Banking Financial Company-Microfinance Institution (NBFC-MFIs) have witnessed 16.4% spike in the number of client to 4 crore as on 30 June, 2024 as compared to the last year, the MFIN Micrometer said.
The Asset Under Management (AUM) of MFIs increased by 22.8% compared to 30 June 2023 and decreased slightly by 0.8% compared to 31 March 2024.
The AUM is Rs 1,44,797 Cr as on 30 June 2024, including owned portfolio Rs 1,16,478 Cr and managed portfolio (off BS) of Rs 28,319 Crore, the report highlighted.
The owned portfolio of MFIN members is 69% of the NBFC-MFI universe portfolio of Rs 1,68,747 Crore.
Loan disbursed by the MFIs
The micrometer highlighted that the loan amount of Rs 26,223 Crore was disbursed in Q1 FY 24-25 through 56.8 Lakh accounts. This included disbursement of Owned as well as Managed portfolio.
Notably, this is 1.5% higher than the amount disbursed in Q1 FY 23-24.
Average loan amount disbursed per account during Q1 FY 24-25 was Rs 46,132 which has increased by around 9.3% in comparison to same quarter of last financial year, the report said.
Borrowings and funding received by the MFIs
The report said that the MFIs borrowings O/s were Rs 1,01,020 Crore as on June 30, 2024.
Banks contributed 62.1% of borrowings O/s followed by 16.8% from Non-Bank entity, 10.1% from AIFIs, 7.5% from External Commercial Borrowings (ECB) and 3.5% from other sources.
In terms of debt funding, there was a 11.5% decrease on the YoY basis. During Q1FY25, NBFC-MFIs received a total of Rs 13,103 Cr in debt funding.
Banks contributed 72.6% of the total Borrowing received followed by Non-Bank entities 17.5%, ECB 6.1%, Others 2.3% and AIFIs 1.5%.
MFIs total equity increased by 35.7% as compared to end of Q1FY24 and is at Rs 33,861 Cr as on 30 June 2024.
Portfolio at Risk (PAR) >30 days as on 30 June 2024 has deteriorated to 4.1% as compared to 3.3% as on 30 June 2023.
East & North-East dominate:
The report highlighted that the East and North-East continue to have the largest share of portfolio. Although these regions were on a declining trend but stable in the last three quarters, closely followed by South.
The Top 10 states constitute 84.6% in terms of GLP. Bihar continues to be the largest state in terms of portfolio outstanding followed by Tamil Nadu and Uttar Pradesh.
Among Top 10 states, Tamil Nadu has the highest average loan outstanding per account of Rs 31,271 followed by Kerala at Rs 29,612.
