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News: Bajaj Finance reported preliminary performance for Q4FY24. While AUM growth remained healthy at 34% YoY to ₹ 330400 crore, however, incremental growth momentum witnessed some moderation in Q4FY24. Moderation was witnessed in customer addition at 32.3 lakh (38.5 lakh in Q3FY24) and thus loans booked at 78.7 lakh (98.6 lakh in Q3FY24) partially due to regulatory restriction on issuance of ‘Ecom’ and ‘EMI Card’. Deposit witnessed a healthy growth of 35% YoY to ₹ 60100 crore.
Views: Moderation in loans booked witnessed even after excluding impact of regulatory restriction (~8 lakh accounts), however, increase in ticket size led to continued momentum in AUM. Management commentary on growth, especially from new business segments will remain watchful.
Impact: Neutral