Bajaj Finance new loans rises 4% YoY in Q4
Bajaj Finance reported a 4% increase in new loans booked during Q4 FY24, reaching 7.87 million compared to 7.56 million in Q4 FY23. However, restrictions imposed by the RBI led to a decrease of 0.80 million in new loans, specifically under E-COM and Insta EMI Card categories.
The customer franchise grew to 83.64 million by March 31, 2024, up from 69.14 million a year earlier, with an increase of 3.23 million in Q4 FY24 alone. Assets under management (AUM) surged by 34% to about Rs 330,400 crore by March 31, 2024, compared to Rs 247,379 crore by March 31, 2023, with a growth of approximately Rs 19,400 crore in Q4 FY24. The company’s consolidated net liquidity surplus stood at approximately Rs 15,700 crore by March 31, 2024, reflecting its robust liquidity position.
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