Mega-Cap Bajaj Finance Posts Highest-Ever New Loans Booked in Q3: Biz Update
By Malvika Gurung
Investing.com -- The leading non-banking financial company (NBFC) Bajaj Finance (NS: BJFN ) has released its business update on a consolidated basis for the quarter ending on Dec 31, 2022, posting its highest-ever quarterly increase in customer franchise as well as new loans booked.
The financial giant reported a 19.13% YoY rise in customer franchise at 66 MM in Q3 FY23, witnessing its highest-ever quarterly increase of 3.1 MM in the quarter, while the new loans booked surged 5.4% YoY to 7.8 MM in the quarter, its highest ever.
Bajaj Finance reported that its assets under management (AUM) rose 27% YoY to nearly Rs 2,30,850 crore as of Dec 31, 2022, growing by approximately Rs 12,500 crore in the Dec quarter. Its consolidated net liquidity surplus stood at Rs 12,750 crore by the end of Dec 2022, with the liquidity position remaining strong, the company said.
The mega-cap stock continues to remain well capitalized with a capital adequacy ratio of almost 25.1% as of Dec 31, while its deposit book surged by 41% YoY to Rs 43,000 crore.
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