TVS Credit aims 25 pc loan growth this fiscal

6 June 2022, 1:37 pm
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TVS Credit, non-bank financing arm of USD 8.5-billion TVS Group, aims at a loan growth of 25 per cent during the current financial year, with the focus on underserved segments of the market.

The company, which got NBFC (Non-Banking Finance Company) licence in FY10, started primarily with two-wheeler financing and subsequently forayed into used car, commercial vehicle and tractor loans. It is also present in business and consumer durable loans.

The company closed FY22 with a Rs 13,911 crore balance sheet and expects 25-30 per cent growth in the current fiscal, TVS Credit CEO Venkatraman Gopalakrishnan said.

He said the company is onboarding 1.5-2 lakh customers every month.

‘Apart from two-wheeler loans, our focus is going to be on the commercial side because that plays with our long-term definition of saying self-employed mid-market…there is plenty of space to grow,’ he said.