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CreditAccess Grameen Ltd.

BSE: 541770 Sector: Financials
NSE: CREDITACC ISIN Code: INE741K01010
BSE 00:00 | 24 Apr 2020 CreditAccess Grameen Ltd
NSE 05:30 | 01 Jan 1970 CreditAccess Grameen Ltd

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OPEN 463.30
PREVIOUS CLOSE 441.25
VOLUME 15867
52-Week high 1000.80
52-Week low 305.75
P/E 15.84
Mkt Cap.(Rs cr) 6,036
Buy Price 419.30
Buy Qty 19.00
Sell Price 419.20
Sell Qty 745.00
OPEN 463.30
CLOSE 441.25
VOLUME 15867
52-Week high 1000.80
52-Week low 305.75
P/E 15.84
Mkt Cap.(Rs cr) 6,036
Buy Price 419.30
Buy Qty 19.00
Sell Price 419.20
Sell Qty 745.00

CreditAccess Grameen Ltd. (CREDITACC) - Chairman Speech


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Company chairman speech

Yet another year of impressive growth and accolades! Despite the lingering impact of de-monetisation the havoc caused by the floods and the NBFC liquidity crisis CA Grameen has managed to achieve growth with profitability and quality at rates better than other players in the industry. No doubt with many microfinance institutions (MFI) becoming small finance banks (SFB) the industry has fewer players today. Yet our performance was quite impressive given the difficult operating environment in the last fiscal year.

That the inherent strength of CA Grameen is well appreciated by banks and other financial institutions both at the domestic and foreign level is borne out by the fact that the Company has always had more than adequate liquidity at all times. The number of institutions supporting CA Grameen has shown an increasing trend. The smart recovery in the market price of the Company's equity shares also is an endorsement of the Company's intrinsic value.

During the year the Company introduced several value products for customers in keeping with its customer-centric approach. To improve the quality of product/service delivery and to facilitate better risk management several digital initiatives were introduced. The shift from creating a social impact to being socially responsible in an effort to develop the rural population continues to be our primary focus this year.

On other fronts risk management has been further strengthened based on experiences of the past year during which the Company had to deal with the full impact of de-monetisation. Superior performance and recognition by important stakeholders has put greater responsibilities on the Company to protect and enhance its working culture and ethos which enabled CA Grameen to achieve such a performance.

I am sure the CA Grameen team will continue to pursue a customer-centric approach in product design pricing and delivery. I am also sure that the CA Grameen team will aggressively pursue digitization in operational aspects and management. The Board and the management will continue to focus on risk management and governance in the coming year.

I wish the CA Grameen team and all stakeholders greater glory in FY 2019-20.

M N Gopinath

Chairman


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