Delhi, India: The prominent microfinance lender, Satin Creditcare Network Limited, is declared its outstanding achievement of surpassing Rs. 10,000 crore in Assets Under Management on a standalone basis. This milestone highlights the company’s dedication to customer-centric principles, strong risk management strategies, and inventive credit solutions designed to cater to the varied requirements of its clientele. As of December 31, 2023, the company’s AUM stood at Rs. 9,811 crore.
- The company has experienced robust business momentum, demonstrating a strong recovery following disruptions caused by the Covid pandemic through proactive measures and strategic initiatives.
- Satin Creditcare has achieved a net customer addition of 6.3 lakhs as of the third quarter of fiscal year 2024, marking a 35% year-on-year growth and surpassing the significant milestone of serving 3 million clients.
- During the third quarter of fiscal year 2024, the company disbursed Rs. 2,698 crore, compared to Rs. 2,202 crore and Rs. 1,980 crore disbursed during the second and first quarters of fiscal year 2024, respectively. Additionally, in the third quarter of fiscal year 2024, the company expanded its presence by opening 32 new branches, thereby reaching a total network of 1,165 branches spanning across 24 states and union territories.