Bajaj Finance reported a 10% increase in new loans for the quarter ending June 30, 2024, with 10.97 million loans compared to 9.94 million in the same period last year. The company’s deposits reached Rs 62,750 crore, a 26% growth from Rs 49,944 crore a year ago.
The total assets under management (AUM) grew by 31%, reaching Rs 3,54,100 crore as of June 30, 2024, up from Rs 2,70,097 crore on June 30, 2023. This marks an increase of about Rs 23,500 crore in Q1 FY25.
Bajaj Finance announced on Wednesday after market hours that they have resumed approving and disbursing loans under their ‘eCOM’ and ‘Insta EMI Card’ programs. They also restarted issuing EMI cards following the RBI lifting restrictions on these services on May 2, 2024.
These figures are on a consolidated basis, according to the company’s filing.
More details to follow…
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