Active Stocks
Sat Mar 02 2024 12:29:56
  1. Tata Steel share price
  2. 155.30 3.53%
  1. HDFC Bank share price
  2. 1,430.50 -0.05%
  1. State Bank Of India share price
  2. 773.40 0.53%
  1. ICICI Bank share price
  2. 1,084.60 -0.21%
  1. Axis Bank share price
  2. 1,095.00 -0.40%
Business News/ Companies / News/  CredCo-lend loan disbursement at 5,000 crore in FY22
BackBack

CredCo-lend loan disbursement at ₹5,000 crore in FY22

CredAvenue said consumer finance accounted for 45% of the platform’s total co-lending volume, while housing finance was another important category making up for 35% of overall co-lending volume

According to CredCo-lend platform, it has enabled more than 50 partnerships across over 15 asset classes in the last financial year, accelerating the adoption of co-lending in the country.Premium
According to CredCo-lend platform, it has enabled more than 50 partnerships across over 15 asset classes in the last financial year, accelerating the adoption of co-lending in the country.

NEW DELHI: Debt market platform CredAvenue on Wednesday said its CredCo-lend vertical grew 35% month-on-month on an average, and disbursed close to 5,000 crore worth of loans with more than 14 lakhs transactions in financial year 2021-22. CredCo-lend enables disbursing of loans by two lender firms.

In a report, CredAvenue said consumer finance accounted for 45% of the platform’s total co-lending volume, while housing finance was another important category utilising the co-lending platform, accounting for 35% of overall co-lending volume, followed by the SME segment, which accounted for 9% of total volumes.

Maharashtra, Karnataka, and Tamil Nadu accounted for 36% of co-lending volumes in the consumer sector, while close to 25% of co-lending transactions from Delhi and NCR were for housing loans.

The report also highlighted that more than 30% of the two-wheeler financing comes from Tamil Nadu, followed by Punjab, Maharashtra, and Karnataka, with close to 10-15% shares each.

“Co-lending product is being increasingly used as a source of liability by companies across asset classes and AUM range to maintain a capital-light model, boost ROA and ROE, reach out to a wider customer base and get access to a continuous source of funding," said Arjun Sood, DVP, issuer onboarding - Co-lending platform, Cred Avenue.

The company experts the market size of co-lending to increase to 5-6% of the overall NBFC credit by FY24.

“We are seeing a preference towards co-lending model 2 or DA akin model in larger and higher rated originators. On the other end, early-stage or lower-rated NBFCs, FINTECHs prefer Model 1," said Sood.

According to CredCo-lend platform, it has enabled more than 50 partnerships across over 15 asset classes in the last financial year, accelerating the adoption of co-lending in the country.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 08 Jun 2022, 05:18 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie