HDFC Bank and two global financial firms are exploring buying a stake in CreditAccess Grameen. Axis Bank is also in talks. CreditAccess India BV, the owner, is looking to sell its majority stake. This move aims to provide an exit for patient investors. The microfinance market is showing signs of recovery. CreditAccess Grameen is financially strong and poised for growth.
AU Small Finance Bank Q2 profit jumps 53% to Rs 858 crore
AU’s gross non-performing assets ratio fell 42 basis points (bps) to 1.99% at the end of September. This helped in 25% lower provision at Rs