Bajaj Finance deposit grew 22.5 pct to Rs 21,600 crore in September 2020

Bajaj Finance on Tuesday in its performance update for the second quarter of the financial year 2020-21 (Q2FY21) on Tuesday said its consolidated deposit book rose by 22.5 per cent to Rs 21,600 crore as of September 30, 2020, as compared to Rs 17,633 crore as of September 30, 2019.

It said, the consolidated liquidity surplus of the company stood at approximately Rs 22,300 crore as of September 30, 2020. The Company's liquidity position remains very strong.

The company in its September quarter update said, the customer franchise as of September 30, 2020, stood at 44.1 million as compared to 38.7 million as of September 30, 2019. During the quarter, the company acquired 1.2 million new customers. It adds, the new loans booked during Q2 FY21 fell to 3.6 million, down 44 per cent, as compared to 6.5 million in Q2 FY20.

Assets under management (AUM) stood at approximately Rs 1,37,300 crore as of September 30, 2020, as compared to Rs 1,35,533 crore as of September 30, 2019. The company continues to remain well-capitalized with capital adequacy ratio (CRAR) of approximately 26.5 per cent as of September 30, 2020, while maintaining the highest ever liquidity buffer

It says, the company will continue to accelerate its provisioning for COVID-19 in Q2FY21 as well to further strengthen its balance sheet.