CREDITACC

** Shares of CreditAccess Grameen CRDE.NS surge as much as 9.7% to 1,009.85 rupees; last up 8.5%

** Microfinance firm said it added 150,000 new borrowers in January and February; it had added 152,000 new customers in the October-December quarter

** CRDE said its business momentum and stabilizing asset quality improved due to healthy loan portfolio across geographies

** Stock rated "Buy" on avg, median PT at 1,067 rupees - LSEG data

** CRDE among top five gainers on Nifty 500 index .NIFTY500, which is up 0.6%

** Year-to-date, CRDE up 3.8%, NIFTY500 down ~9%

(Reporting by Manvi Pant in Bengaluru)

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Feb 3 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• SECURES USD 50 MILLION FROM INTERNATIONAL FINANCE CORPORATION

Further company coverage: CRDE.NS

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** India's benchmark NSE Nifty 50 .NSEI and BSE Sensex .BSESN drop 0.75% each, weighed by slowing corporate earnings

** All 13 top sectors decline; smallcaps .NIFSMCP100 and midcaps .NIFMDCP100 lose 3.7% and 2.3%, respectively

** JSW Steel JSTL.NS loses 2% on Q3 profit miss; metal index .NIFTYMET down 2%

** IDFC First Bank IDFB.NS drops 7.5% on profit fall, while CreditAccess Grameen CRDE.NS sheds 6% on posting a loss, with both hit by souring microfinance loans

** AU Small Finance Bank AUFI.NS declines 7% after cutting FY25 loan growth forecast

** In contrast, No. 2 private lender ICICI Bank ICBK.NS gains 1.7% and helps Nifty cut losses after a higher quarterly profit on healthy loan growth; brokerages call a safe haven

(Reporting by Bharath Rajeswaran in Bengaluru)

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Nov 29 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• RAISES EURO 25 MILLION FROM DEG AND 1.70 BILLION RUPEES FROM CITI

Source text: ID:nBSE2V19QH

Further company coverage: CRDE.NS

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** Shares of CreditAccess Grameen CRDE.NS shed 5.4% to 928.80 rupees

** Stock set for seventh straight losing session, if losses hold

** Microfinance institution's Q2 consol net profit slumped 46.7% Y/Y

** CRDE's track record of better-than-industry performance was derailed in Q2 due to high credit costs, ICICI Securities' analysts say

** Prolonged stress from disruption in loan repayments, tight cashflow and transient impact of heavy rainfall in some geographies to hurt FY25 earnings - ICICI Securities

** At least 10 analysts have cut PT on "buy"-rated stock since results, median PT is 1,214 rupees vs 1,650 rupees last month - LSEG data

** Stock down ~42% YTD

(Reporting by Kashish Tandon in Bengaluru)

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Oct 25 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• CREDITACCESS GRAMEEN - REVISED ESTIMATES FOR FY25 NIM AT 12.8-13.0%

Source text for Eikon: ID:nBSE8kvkGP

Further company coverage: CRDE.NS

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** Shares of CreditAccess Grameen CRDE.NS fall as much as 3.4% to 1,081 rupees, the lowest since May 16, 2023

** Co had reported a 19% Y/Y fall in disbursements for Q2; analysts at Nomura flag multiple headwinds ahead for the microfinance sector

** Nomura downgrades stock to "reduce" from "neutral"; cuts PT to 950 rupees from 1,100 rupees

** Deterioration in asset quality and fall in assets under management and disbursements causes for concern - Nomura

** Seventeen analysts covering the stock on avg have a "buy" rating; median PT is 1,650 rupees - LSEG data

** Stock down 32% so far this year, on track to snap two straight annual gains

(Reporting by Ashna Teresa Britto in Bengaluru)

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Oct 10 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• Q2 AUM UP 12% Y/Y

• DISBURSEMENTS FOR Q2 DOWN 19% Y/Y

Source text for Eikon: ID:nBSE1yRht4

Further company coverage: CRDE.NS

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** Shares of CreditAccess Grameen CRDE.NS down 2.3% at 1,255 rupees

** Stock among top losers in Nifty small-cap index .NIFSMCP100, which is up 0.5%

** Microfinance co on Friday reported Q1 profit below some analysts' estimates, hurt by lower growth in assets under management and higher credit costs

** Implementation of new measures suggested by regulator will lead to lower-than-expected credit growth for FY25 and slightly higher delinquencies, Systematix said in a note

** Higher credit costs, moderation in loan growth will weigh on profitability metrics in FY25-FY26, HDFC Securities said

** At least 10 analysts trim PT on "strong buy" rated stock after results,; median PT down at 1,747.50 rupees vs 1,825 rupees, a month back - LSEG data

** Stock among top losers in small-cap index YTD, down 20% vs 22% gains in index

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

July 19 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• JUNE-QUARTER PROFIT 3.98 BILLION RUPEES

• JUNE-QUARTER TOTAL REVENUE FROM OPERATIONS 15.12 BILLION RUPEES

Further company coverage: CRDE.NS

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** Shares of CreditAccess Grameen Ltd CRDE.NS up 1.4% at 1,441 rupees

** Non-banking microfinance lender's Q4 profit up 34% y/y, helped by 41% jump in interest income; NIM rises to 13.1% from 12.2%

** CRDE rose over 7% in early trade

** HSBC maintains "buy" on stock, says CRDE has "the ability to deliver high profitability and earnings growth consistently"

** Adds, CRDE remains "best-in-class" in the event of a downturn in asset quality cycle

** Over 1.2 mln shares traded, 5.1x 30-day avg volume

** Sixteen analysts tracking the stock rate it "strong buy" on avg; median PT is 1,861 rupees - LSEG data

** Stock trims YTD losses to 9.5%

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of non-banking microfinance lender CreditAccess Grameen CRDE.NS up 4.9% at 1,498 rupees

** Goldman Sachs starts covering stock with "buy" rating and PT of 1,788 rupees

** Says CRDE "well-poised" to capture share of expanded ~$136 bln microfinance lending market, sees AUM growing 19% CAGR from FY24-28

** FY24-26 profit after tax to grow 21% CAGR, driven by 24% CAGR in lending - Goldman

** CRDE can narrow "unwarranted" valuation gap with larger peers over next two years if it continues to deliver "superior operating metrics", brokerage says

** CRDE's FY25 P/E of 12.4x is a 27% discount on avg to non-bank lenders covered by brokerage

** Avg rating of 16 analysts is a "strong buy;" median PT is 1,900 rupees - LSEG data

** Stock narrows YTD losses to 6.7%

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

March 20 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• GETS TAX ORDER FOR ADDITIONAL TAX DEMAND AT 460.3 MILLION RUPEES

Source text for Eikon: ID:nBSEbPxsjx

Further company coverage: CRDE.NS

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BENGALURU, March 4 (Reuters) - Private equity firms Advent International and Multiples will invest $230 million in Svatantra Microfin, the microfinance lender said on Monday, as it looks to tap rising demand for credit in India's hinterlands.

The fund raise comes a few months after Svatantra's acquisition of Chaitanya India Fin Credit for 14.79 billion rupees ($178 million), that helped it become one of India's largest non-bank microfinance companies.

Privately-held Svatantra did not disclose details on how it plans to use the funds or the valuation at which it raised them.

The promoter group, an Indian term for large shareholders who can influence company policy, will continue to have a majority stake in the company.

Svatantra, backed by Ananya Birla, daughter of billionaire industrialist Kumar Mangalam Birla, provides small personal loans to rural and semi-urban customers. It manages assets worth 130 billion rupees.

CreditAccess Grameen CRDE.NS and Fusion Micro Finance FUSN.NS are its peers.

Lenders in the world's biggest microfinance market are betting big on increasing market penetration, with a only little over one-third of the addressable market having access to credit facilities.

($1 = 82.9020 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

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Feb 26 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• CREDITACCESS GRAMEEN TOUCHES MARK OF 250 BILLION RUPEES AUM

Source text for Eikon: ID:nBSE6sK4Wr

Further company coverage: CRDE.NS

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Jan 19 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• APPROVED PROPOSAL FOR RAISING FUNDS

• APPROVED FUND RAISE BY ISSUE OF NON-CONVERTIBLE DEBENTURES UP TO 20 BILLION RUPEES IN DIFFERENT TRANCHES

• DEC-QUARTER CONSOL PROFIT 3.53 BILLION RUPEES VERSUS 2.16 BILLION RUPEES

• DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 12.92 BILLION RUPEES VERSUS 9.08 BILLION RUPEES

Further company coverage: CRDE.NS

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** CreditAccess Grameen CRDE.NS climb as much as 12.4% to record high of 1,561.95 rupees in heavy volume

** Bank's Q2 consolidated profit nearly doubles, helped by net interest margin (NIM) increasing to 13.1% from 12% YoY

** Asset quality improved as gross non-performing asset ratio decreased to 0.77% from 0.89% in Q1

** Emkay Global raises FY24-26 earnings estimate by 7%-15% factoring in better growth trajectory, margin delivery, partly offset by higher provisions

** HDFC Securities says despite likely NIM pressure, CRDE poised to sustain strong earnings due to operating leverage, low credit costs

** Over 2.2 mln shares traded in stock's busiest session in 4 months

** CRDE up 70.7% YTD

(Reporting by Rama Venkat in Bengaluru)

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Oct 20 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• Q2 NIM AT 13.1% VERSUS 12% YEAR AGO

Source text for Eikon: ID:nBSEc57xbd

Further company coverage: CRDE.NS

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Oct 17 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• COMMISSIONER OF INCOME TAX (APPEALS) ACCEPTS CO'S APPEAL AGAINST TAX DEMAND OF 1.23 BILLION RUPEES

Source text for Eikon: ID:nBSE7tLn2x

Further company coverage: CRDE.NS

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Oct 3 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• CREDITACCESS GRAMEEN LTD - COMPLETED ONE DIRECT ASSIGNMENT TRANSACTION AMOUNTING TO 1.08 BILLION RUPEES DURING QUARTER ENDED SEPTEMBER

Source text for Eikon: ID:nBSE6brdXb

Further company coverage: CRDE.NS

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Sept 11 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• CREDITACCESS GRAMEEN RAISES 9.9 BILLION RUPEES VIA PUBLIC ISSUE OF NCDS

Further company coverage: CRDE.NS

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CreditAccess Grameen Ltd CRDE.NS:

• CREDITACCESS GRAMEEN LTD- APPROVED PUBLIC ISSUE OF NON-CONVERTIBLE DEBENTURES OF 10 BILLION RUPEES

Source text for Eikon: ID:nBSE7P3St

Further company coverage: CRDE.NS

July 25 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• CREDITACCESS GRAMEEN LTD - ELEVATES GANESH NARAYANAN AS CHIEF EXECUTIVE OFFICER

• CREDITACCESS GRAMEEN LTD - CURRENT MANAGING DIRECTOR & CEO UDAYA KUMAR HEBBAR WILL CONTINUE TO LEAD AS MANAGING DIRECTOR

Source text for Eikon: ID:nBSE8Fxshd

Further company coverage: CRDE.NS

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July 21 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• NAMES GANESH NARAYANAN AS CEO

• RE-DESIGNATION OF UDAYA KUMAR HEBBAR AS MD

• RE-DESIGNATION OF UDAYA KUMAR HEBBAR AS MD

• JUNE-QUARTER CONSOL PROFIT 3.48 BILLION RUPEES VERSUS 1.39 BILLION RUPEES

• JUNE-QUARTER CONSOL INTEREST INCOME 11.05 BILLION RUPEES VERSUS 7.36 BILLION RUPEES

• APPROVED INCREASE IN BORROWING LIMITS OF CO FROM 200 BILLION RUPEES TO 300 BILLION RUPEES OUTSTANDING AT ANY POINT OF TIME

Source text for Eikon: ID:nNSE9ppmc1

Further company coverage: CRDE.NS

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** Shares of Indian microfinance services provider CreditAccess Grameen CRDE.NS rise as much as 2% to 1,272.40 rupees apiece

** Plutus Wealth Management bought 1.02 mln shares as 1,245 rupees per share, on Friday, according to bulk deal data from National Stock Exchange (NSE)

** BNP Paribas Arbitrage and Canara Robeco Mutual Fund Emerging Equity purchased 1.22 mln shares and 1.18 mln shares at 1,245.76 rupees and 1,245.01 rupees, respectively

** Of the 14 analysts tracking the stock, 10 maintain "strong buy", three suggest "buy" and one recommends "hold"; median TP is 1,375 rupees - Refinitiv data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of CreditAccess Grameen CRDE.NS fall as much as 6.1% to 1,244.95 rupees, its steepest intraday pct decline since Oct. 17

** Co's main shareholder CreditAccess India BV may sell up to a 5.8% stake worth 11.07 bln rupees ($135 mln) via block deal, CNBC Awaaz reported on Thursday, citing sources

** Report adds that base price for block deal likely to be 1,230 rupees per share, a 7.8% discount to Wednesday's closing level; India's markets were shut for Eid holiday on Thursday

** Almost 11.7 mln shares change hands as of 10:35 am IST, 45.1X the 30-day moving average

** Thirteen analysts rate the stock "buy" or "strong buy", one "hold"; median PT is 1,375 rupees - Refinitiv data

** Stock up ~45% this year, as of last close

($1 = 82.0400 Indian rupees)

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

June 27 (Reuters) - CreditAccess Grameen Ltd CRDE.NS:

• SIGNS SYNDICATED SOCIAL LOAN FACILITY OF UP TO $200 MILLION

• CO HAS CURRENTLY DRAWN $100 MILLION, REMAINING COMMITMENTS SHALL BE DRAWN OVER COMING MONTHS

Source text for Eikon: ID:nBSE7XPw3L

Further company coverage: CRDE.NS

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** Shares of non-banking finance companies (NBFCs) like Bajaj Finance BJFN.NS, Bajaj Finserv BJFS.NS, Mahindra & Mahindra Financial Services MMFS.NS rise over 2% on Monday

BJFN hits an 8-month high while BJFS rises to its highest in over five months; both stocks among top gainers in Nifty 50 index

Brokerages including JPMorgan, HSBC and Morgan Stanley reiterated positive view of the sector, citing growth recovery after a five-year downturn

** JP Morgan sees scope for increased allocation to NBFCs from both domestic and foreign investors

** Identifies BJFN and L&T Finance Holdings LTFH.NS as its top picks

** Morgan Stanley lists BJFN, SBI Cards and Payment Services SBIC.NS as its top picks among large cap NBFCs

** Uptick in earnings growth to lead to sustained outperformance of NBFCs, says HSBC Securities

** Upgrades MMFS to "buy" from "hold"

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Cost of funds will rise for non-banking financial companies (NBFCs) in 2023-24 despite two back-to-back rate pauses by Reserve Bank of India (RBI), says global brokerage firm CLSA

** RBI has hiked the repo rate by 250 basis points since May last year to 6.5%, before pausing rate hikes in the last two policy meetings

** CLSA estimates less than 50% of borrowings for most large NBFCs at floating rates, where rate transmission happens with a lag of 1-12 months

** Among NBFCs, Fusion Microfinance has the highest share of floating rate borrowings at 94%; 74% for SBI Cards; 39% for LIC Housing Finance

** Also 20% of NBFCs' non-convertible debentures (NCDs) are maturing in FY24 and FY25 each which bear coupon rates "much below" current levels, implying a refinancing hit - CLSA

** Incremental cost of NCDs unlikely to come off with repo rate cuts - CLSA

** Expects bank borrowing costs for NBFCs to reprice upwards in first half of FY24

** Borrowing costs likely to decline in first half of FY25, assuming RBI starts cutting rates in Q3FY24

** SBI Cards is brokerage's preferred pick; CLSA sees most pressure for LIC Housing Finance

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected] ; +91 9769003463))

** Shares of CreditAccess Grameen Ltd CRDE.NS rise as much as 8.97% to a record high of 1,183.30 rupees

** Stock on track for a third consecutive session of gains, if trends hold

** Co on Tuesday reported 86.4% YoY rise in Q4 consolidated profit while its total revenue rose 29.6% YoY

** "CRDE beats its own FY23 loan guidance of ~25% YoY by delivering ~27% YoY loan growth led which by active customer addition and healthy customer retention at 88%", said Brokerage Equirus Securities

** Adds, it expects ROA/ROE for FY24E to be ~4.8%/~20%; maintaining "long" rating for the stock while raising PT to 1,385 rupees from 1,350 rupees

** Share price above 50-day, 100-day and 200-day exponential moving averages since April 17, suggesting bullish trend

** More than 1.4 mln shares change hands by 11:07 a.m. IST, highest since Feb. 7, 2022

** Avg rating of 12 analysts close to equivalent of 'strong buy'; median PT is 1,290 rupees - Refinitiv data

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))