CreditAccess Grameen Reports Robust 33% YoY Disbursement Growth in Q2 FY26
CreditAccess Grameen Limited announced strong Q2 FY26 performance with 33% year-over-year disbursement growth. The company opened 96 new branches in Q2, added 2.2 lakh new borrowers, and improved asset quality metrics. Gross Loan Portfolio stood at ₹25,904.00 crore as of September 2025. PAR ratios showed improvement, with PAR 0+ decreasing from 5.90% to 4.70%. Karnataka, the largest market, saw PAR 0+ improve from 9.20% to 6.80%.
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CreditAccess Grameen Limited , a leading microfinance institution, has announced strong disbursement growth for the second quarter of fiscal year 2026 (Q2 FY26), demonstrating resilience in a seasonally weaker quarter.
Key Highlights
- 33% year-over-year growth in disbursements for Q2 FY26
- 27% year-over-year growth in disbursements for H1 FY26
- 150 new branches opened in H1 FY26, including 96 in Q2
- Approximately 4.4 lakh new borrowers added in H1 FY26, with 2.2 lakh in Q2
Disbursement and Portfolio Performance
CreditAccess Grameen has shown impressive growth in its disbursements despite Q2 typically being a seasonally weaker period. The company's disbursements grew by approximately 33% year-over-year in Q2 FY26, while the first half of FY26 saw a 27% year-over-year increase.
The company's Gross Loan Portfolio (GLP) stood at ₹25,904.00 crore as of September 2025, slightly lower than the ₹26,055.00 crore reported in June 2025. This marginal decrease can be attributed to the impact of ₹683.00 crore in write-offs, including accelerated write-offs, during Q2 FY26.
Expansion and Customer Base
CreditAccess Grameen continued its expansion strategy, opening 150 new branches in the first half of FY26, with 96 of these branches established in Q2 alone. This expansion has helped the company reach more customers, resulting in the addition of approximately 4.4 lakh new borrowers in H1 FY26, including 2.2 lakh new borrowers in Q2.
Asset Quality
The company reported improvements in its asset quality metrics:
| Asset Quality Indicator | June 2025 | September 2025 |
|---|---|---|
| PAR 0+% | 5.90% | 4.70% |
| PAR 30+% | 4.90% | 3.70% |
| PAR 90+% | 3.30% | 2.50% |
The Portfolio at Risk (PAR) figures show a declining trend across all categories, indicating an improvement in overall asset quality. However, the company noted that PAR 15+ accretion rate remained range-bound due to the temporary impact of heavy rains and floods across its operating geographies. The management expects this metric to improve in the coming months.
State-wise Performance
Karnataka, the company's largest market, showed significant improvement in asset quality:
| State | PAR 0+ (Jun-25) | PAR 0+ (Sep-25) | PAR 90+ (Jun-25) | PAR 90+ (Sep-25) |
|---|---|---|---|---|
| Karnataka | 9.20% | 6.80% | 5.10% | 3.90% |
Other key states like Maharashtra, Tamil Nadu, Madhya Pradesh, and Bihar also showed varying degrees of improvement in their PAR ratios.
Conclusion
CreditAccess Grameen's strong disbursement growth in Q2 FY26, coupled with its expanding branch network and improving asset quality, demonstrates the company's resilience and growth potential in the microfinance sector. The management's focus on geographical expansion and customer acquisition appears to be yielding positive results, setting a solid foundation for future growth.
Investors and market watchers will likely keep a close eye on how the company manages its growth trajectory while maintaining asset quality in the face of environmental challenges such as heavy rains and floods in its operating areas.
Historical Stock Returns for Credit Access Grameen
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.46% | +2.94% | +4.21% | +45.71% | +21.66% | +88.98% |
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