Pune-based NBFCs post healthy loan growth

Pune: Bajaj Finance and Poonawalla Fincorp reported a robust growth in fresh loans issued in Q1FY24. Poonawalla Fincorp saw 143% jump in total disbursements during Q1FY24 to Rs 7,050 crore. Sequentially, disbursements were up 11%. Of the total loans issued, 86% were sourced from the company’s digital platform. AUM grew by 41% y-o-y to Rs 17,770 crore as on June 30. Bajaj Finance’s new loans booked in Q1FY24 grew by 34% to 99.4 lakh compared to 74.2 lakh in Q1FY23 while AUM grew by 32% to Rs 2.7 trillion as of June 30. Deposits stood at Rs 49,900 crore in the same period compared to Rs 34,102 crore a year ago. tnn