Bajaj Finance Q2FY23 performance has reaffirmed that the already big, strong Bajaj Finance has turned even mightier after the pandemic. Over the past 15 years, it has grown its loan book at a compounded annual growth rate (CAGR) of 37% and profit at a CAGR of 51%, with an average ROE of 17%. The lender showed improvement across loan growth, profitability and asset quality. Robust growth in assets, better asset quality and fall in provisions/credit costs underlined performance even as operating expenses increased during the quarter. Through digital transformation, Bajaj finance intends to not only double its existing customer base but also mine the wallet share of its existing customers in a cost-effective manner. Asset quality trended better, with NPAs reducing further.
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