NBFC loan sanctions rise 12% YoY in Q1FY25, led by growth in home, auto, and personal loans: Report
New Delhi: Loan sanctions by non-banking finance companies (NBFCs) in India saw a 12% year-on-year (YoY) increase in the first quarter of the current financial year (Q1FY25), driven by strong growth in home, auto, and personal credit segments, media reports said.
However, sequentially, loan sanctions dropped by 11% compared to the March 2024 quarter (Q4FY24) due to the seasonal nature of the business, Business Standard reported, citing the Finance Industry Development Council (FIDC).
In absolute terms, NBFCs sanctioned loans worth Rs 5.08 trillion during the April-June 2024 period, up from Rs 4.54 trillion in Q1FY24, as per FIDC data, which represents the industry's finance companies.
While most major loan categories showed positive YoY growth, construction equipment loans experienced a decline.
The FIDC statement highlighted a 26% surge in gold loan sanctions, which amounted to Rs 79,217 crore in Q1FY25, compared to Rs 62,834 crore in the same period last year.
Personal loan sanctions grew 12% YoY, reaching Rs 71,306 crore, up from Rs 63,494 crore in Q1FY24. Housing loan sanctions increased to Rs 50,826 crore from Rs 47,084 crore, while auto loan sanctions rose to Rs 25,022 crore, compared to Rs 22,823 crore a year ago.
Consumer loan sanctions also grew, hitting Rs 34,466 crore in Q1FY25, up from Rs 29,885 crore in Q1FY24.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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