Satin Creditcare plans 15-20% growth in assets under management in fiscal 23, according to CMD


Singh said the merger of Satin Creditcare’s two wholly owned subsidiaries, Taraashna Financial Services with Satin Finserv, is expected to be completed by the end of March.

By Piyush Shukla

Satin Creditcare Network, whose board of directors approved to raise 225 crore rupees on Monday, will use the funds to generate 15-20% annual growth in its assets under management (AUM) in 2022-2023, said the chairman and chief executive officer HP Singh. FE.

“We envision around 6 to 8% [AUM] growth for this year (FY22) since we’ve lost a quarter technically if you look at containment and everything. But for FY 23, we’re looking at full-fledged growth of around 15-20%, ”Singh said.

At the end of September, Satin Creditcare’s assets under management stood at Rs 7,381 crore, down 3.7% year on year. Of this total, 9.7% consisted of non-microfinance loans. The share of the non-microfinance (non-MFI) portfolio will increase to 15% by the end of fiscal 23, Singh said. “The overall strategy is that over the next five to six years, at least a third of our portfolio should include secured and non-MFI loans,” he said.

In terms of collections, Singh said the trend was broadly similar to pre-Covid levels and if there is no significant disruption, collections will remain at 97-98%.

Singh said the merger of Satin Creditcare’s two wholly owned subsidiaries, Taraashna Financial Services with Satin Finserv, is expected to be completed by the end of March.

He said that in the future, Satin Housing Finance would only work with real estate mortgages, while all new asset classes, including Taraashna Financial’s current business correspondent activity and micro loans. , small and medium-sized enterprises, will feature in Satin Finserv’s loan portfolio.

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