Latest News | Mahindra Finance Disbursements Up 44 Pc at Rs 2,733 Cr in Feb

New Delhi, Mar 3 (PTI) Mahindra & Mahindra Financial Services on Thursday said its loan disbursements climbed 44 per cent to Rs 2,733 crore in February, aided by continued business momentum.

The collection efficiency during the month stood at 98 per cent.

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In February 2022, the business continued its momentum with a disbursement of approximately Rs 2,733 crore, delivering a 44 per cent year-on-year growth, the company said in a release.

The YTD (year-to-date) disbursement at approximately Rs 23,632 crore registered a yearly growth of 42 per cent, the non-banking finance company said.

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The collection efficiency during the month was the same as in February 2021, in line with expectations, Mahindra Finance said.

"The positive trend in collections led to on a month-on-month improvement in asset quality. During February, the company continued to enjoy a comfortable liquidity position on its balance sheet, with a liquidity chest of over 3 months," it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)