CreditAccess Grameen Limited , a prominent player in the microfinance sector, has received crucial approvals from the Reserve Bank of India (RBI) for significant changes in its top leadership. The company announced that the central bank has given its nod for the appointment of Ganesh Narayanan as Managing Director & CEO and Udaya Kumar Hebbar as Non-Executive (Nominee) Director, both effective from August 05, 2025.

New Leadership at the Helm

Ganesh Narayanan, who brings over 26 years of experience in banking and finance, has been appointed as the Managing Director & CEO for a five-year term. Narayanan's journey with CreditAccess Grameen began in 2020 when he joined as the Chief Business Officer. His rapid ascent within the organization saw him elevated to CEO in August 2023, culminating in this RBI-approved appointment.

Prior to joining CreditAccess Grameen, Narayanan held leadership positions at prominent financial institutions including ICICI Bank, Fullerton India Credit Company (now SMFG), and Yes Bank. His extensive experience spans various business segments, including Microbanking, MSME, Retail, Rural & Financial Institution relationships across India.

Transition to Non-Executive Role

Udaya Kumar Hebbar, a veteran in the banking sector with over 35 years of experience, transitions to the role of Non-Executive (Nominee) Director. Hebbar's expertise lies primarily in operations across rural, agricultural, and micro-banking sectors. His significant contributions to the microfinance industry are highlighted by his two terms as the Chairperson of the Microfinance Institutions Network (MFIN).

Before his association with CreditAccess Grameen, Hebbar held various roles at Barclays Bank PLC, Corporation Bank, and ICICI Bank. His academic credentials include a bachelor's and master's degree in commerce, complemented by his certification as an Associate of the Indian Institute of Bankers (CAIIB).

Corporate Governance and Regulatory Compliance

The appointments of both Narayanan and Hebbar were initially approved by CreditAccess Grameen's Board of Directors and subsequently ratified by shareholders at the Annual General Meeting held on July 30, 2025. The company's commitment to regulatory compliance is evident in its prompt disclosure to the stock exchanges, adhering to the Securities and Exchange Board of India (SEBI) Listing Regulations.

M. J. Mahadev Prakash, Company Secretary & Chief Compliance Officer of CreditAccess Grameen, confirmed that neither Narayanan nor Hebbar is debarred from holding the office of Director in a listed company, as per SEBI regulations.

These strategic appointments come at a crucial time for CreditAccess Grameen as it looks to strengthen its position in the competitive microfinance landscape. The blend of Narayanan's diverse banking experience and Hebbar's deep industry knowledge is expected to guide the company through its next phase of growth and development in the microfinance sector.

Credit Access Grameen , a leading microfinance institution, has reported its highest ever first-quarter disbursements, showcasing resilience amid improving asset quality. The company's performance indicates positive momentum as it navigates through a challenging credit cycle.

Financial Performance

CreditAccess Grameen reported a Profit After Tax (PAT) of Rs. 60.00 crore, with a Return on Assets (ROA) of 0.90% and Return on Equity (ROE) of 3.40%. The company's net interest income grew by 7% quarter-on-quarter to Rs. 937.00 crore, with a portfolio yield of 20.30%.

Asset Quality Improvement

The company witnessed a gradual improvement in asset quality, with the Portfolio at Risk (PAR) 15+ accretion rate declining to 0.46% in June from 1.34% in November. Karnataka, which had been a concern, showed signs of improvement with PAR 15+ accretion reducing to 0.58% in June from 2.00% in February.

Write-offs and Provisions

CreditAccess Grameen undertook accelerated write-offs of Rs. 693.00 crore, including Rs. 603.00 crore related to accounts past due for 180+ days. This resulted in additional credit costs of Rs. 193.00 crore for the quarter. The company maintains a conservative provisioning approach, holding 133 bps or Rs. 331.00 crore higher provisions over PAR 90.

Business Growth and Customer Acquisition

The company added 216,000 borrowers, with 43% being new-to-credit customers. The retail finance portfolio saw significant growth, increasing from 2.90% to 6.80% year-on-year. CreditAccess Grameen expanded its branch network, adding 54 new branches across a mix of vintage markets and newer geographies.

Operational Metrics

• Employee base: 21,333
• Attrition rate: 27.10%
• Cost-to-income ratio: 33.50%
• Pre-Provision Operating Profit (PPOP): Rs. 656.00 crore
• Capital adequacy ratio: 25.50%

Funding and Liquidity

CreditAccess Grameen raised Rs. 2,570.00 crore, including partial drawdowns from its maiden US $100 million multi-currency syndicated social loan. The company maintained adequate liquidity levels with cash and cash equivalents at Rs. 2,025.00 crore, amounting to 7.30% of total assets.

Outlook

Management expects robust profitability in the second half of the fiscal year and maintains its credit cost guidance of 5.50%-6.00% for the year. The company remains confident in its growth trajectory, supported by favorable monsoon forecasts and strengthening rural sentiment.

CreditAccess Grameen's performance demonstrates its ability to navigate challenges while maintaining growth momentum. The company's focus on asset quality improvement and strategic expansion in retail finance positions it well for sustainable growth in the microfinance sector.