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    Magma Fincorp expects loan growth of 25% in FY19

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    Magma Fincorp expects loan growth of 25% in FY19

    Magma Fincorp is expecting a loan growth of 25 percent in financial year 2019, said Kaushik Banerjee, CEO-Asset Finance.
    The company's stock has risen more than 5 percent in the past few days.
    “The core indicators in the economy are trending well, the rural economy is performing well, and disposable income is up 12 percent in rural segment, core sectors have done well. So all things remaining within these parameters, we should see a 25 percent plus growth rate in FY19,” he said.
    "Compression in net interest margins was mainly due to hardening of interest rates and because it is not easy to pass it on but going forward we are hopeful of healthy return on assets on improved portfolio, added Banerjee.
    With regards to affordable housing segment, he said it is around 60 percent of overall incremental disbursements. He said that the ticket size has come down from Rs 20 lakh to Rs 11.5-12 lakhs.
    67 percent of the disbursements done in affordable housing are direct sourcing, he said.
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