Business

Bajaj Finance new loans in Q1 increase to 73 lakh

ANI | July 09, 2019 01:32 PM
Bajaj Finance is the country's largest NBFC by market capitalisation

Mumbai (Maharashtra) [India], July 9 (ANI): Bajaj Finance, the largest consumer durable lender in the country, said on Tuesday that its new loans booked during April to June quarter of the current fiscal year 2019-20 increased to 73 lakh as compared to 56 lakh in the same period of previous year.

Customer franchise on June 30 this year stood at 3.69 crores as compared to 2.83 crores on June 30 last year. During the quarter, the company acquired 25 lakh new customers, the company said in a statement.

Assets under management (AUM) stood at Rs 1.29 lakh crore on June 30 this year as compared to Rs 91,287 crore on June 30, 2018 and Rs 1.15 lakh crore on March 31 this year.

This announcement is significant as the country's economic growth has been hit by a dramatic consumption slowdown, which has dampened demand for consumer durables. The ongoing slowdown in lending by non-banking financial companies (NBFCs) has worsened the situation. (ANI)

Have something to say? Post your comment
Must Read
Police Force should stay fit to tackle challenges: Commissioner of Police
Police Force should stay fit to tackle challenges: Commissioner of Police
An Awareness Seminar on ‘Say to No Drugs’ by ‘Satyamev Jayate Society’ at Innocent Hearts School.
An Awareness Seminar on ‘Say to No Drugs’ by ‘Satyamev Jayate Society’ at Innocent Hearts School.
Anti-larva team detects 15 larva cases
Anti-larva team detects 15 larva cases
Aero-adventure camp at Air force station Bhisiana
Aero-adventure camp at Air force station Bhisiana
Artists of Innocent Hearts Brought Laurels to their Almamater; selected for State Level
Artists of Innocent Hearts Brought Laurels to their Almamater; selected for State Level
6325 students from 189 schools participate in mega event Sabyatech at CT Group
6325 students from 189 schools participate in mega event Sabyatech at CT Group
Airtel shuts down 3G network in Punjab, upgrades customers to high speed 4G network
Airtel shuts down 3G network in Punjab, upgrades customers to high speed 4G network
Anti-larva team detects 23 larva cases
Anti-larva team detects 23 larva cases
Closed Day for voters of Haryana working in Punjab factories
Closed Day for voters of Haryana working in Punjab factories
More than 10,000 people visit digital museum in LKC ground during three days
More than 10,000 people visit digital museum in LKC ground during three days
First Self Help Group Mela of Punjab-‘LAADO’ to be held from 23rd-24th October
First Self Help Group Mela of Punjab-‘LAADO’ to be held from 23rd-24th October
Veterinary pharmacist meeting held in Gandhi park.
Veterinary pharmacist meeting held in Gandhi park.