KOCHI-BASED Muthoot Microfin is hopeful of better days ahead, even as the industry faces headwinds. The second largest micro lender expects the third interest rate reduction earlier last month to attract more customers and also improve collections.
The publicly listed company, with a loan book of ₹12,500 crore as of September 2024, lowered its lending rates for the third time this fiscal in December, by 25 bps to 23.05% for group loans and by 125 bps to 22.70% for third-party product loans.
This has crimped its margins to 13.24%. Earlier in January 2024, it had slashed the interest rate by 55 bps and then in July by 35 bps.
Diese Geschichte stammt aus der January 06, 2025-Ausgabe von The New Indian Express.
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Diese Geschichte stammt aus der January 06, 2025-Ausgabe von The New Indian Express.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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