Mahindra Finance reported stable disbursements and collection efficiency in August

On September 5, Mahindra & Mahindra Financial Services reported stable disbursements and collection efficiency for August. 

In August, the non-banking financial company's disbursements were Rs 4,400 crore, up 15% YoY from the same month last year. Disbursements during the month were flat.

Disbursements made up to August of FY24 were Rs 20,950 crore, up 22% from the same time last year. The stage 3 and stage 2 assets continued to be rangebound as of June 2023, while the collection efficiency for August was constant at 96% YoY.

By utilizing its market leadership in vehicle finance and ramping up new growth engines including SME lending, loan against property, leasing, and Digi Finco, the non-bank financial company is aiming for AUM growth of 2x under Mission 2025.

The company also anticipates that its new operations will make up 15% of the AUM mix. The company's AUM was Rs. 90,500 crore as of the end of August.

Source: Media Reports