CosmicTaco

Groww NBFC's Loan Book Soars to $115 Million Amid Strategic Shifts

CosmicTaco · 2024-09-19T13:41:06.654996+05:30

- Groww Creditserv, Groww's NBFC, expanded its loan book to Rs 965 crore ($115 million) by June 2024, up from Rs 731 crore ($87 million) in March 2024. - Personal loans make up 98% of the loan book, with the remaining 2% being consumer loans. - Groww's lending portfolio also includes partnerships with Aditya Birla Finance, IDFC First Bank, and Credit Saison. - The company dispenses around Rs 250 crore in personal and consumer durable loans monthly, peaking at Rs 350 crore before a strategic shift. - Changes in leadership and a focus on co-lending have marked Groww's recent strategy, with significant equity funding and a growing retail stock investor base driving overall growth. Source: [The Arc](https://thearcweb.com/article/groww-nbfc-expands-loan-book-to-115-mn-nKCctdAHTD2rVZP6)

Groww Creditserv, Groww's NBFC, expanded its loan book to Rs 965 crore ($115 million) by June 2024, up from Rs 731 crore ($87 million) in March 2024.
Personal loans make up 98% of the loan book, with the remaining 2% being consumer loans.
Groww's lending portfolio also includes partnerships with Aditya Birla Finance, IDFC First Bank, and Credit Saison.
The company dispenses around Rs 250 crore in personal and consumer durable loans monthly, peaking at Rs 350 crore before a strategic shift.
Changes in leadership and a focus on co-lending have marked Groww's recent strategy, with significant equity funding and a growing retail stock investor base driving overall growth.

Source: The Arc