This is also true in the gold-financing segment for banks. Due to competitive intensity, there may also be yield compressions in gold loans.
In the October-December quarter (Q3) of FY24, stable yields and AUM growth have helped gold loan businesses improve their financials despite competition. Non-gold segments have also performed well. Higher competitive intensity remains a key risk, going forward.
Three NBFCs in gold financing, Muthoot, Manappuram, and IIFL Finance have average gold loan yields of 17.8 per cent, 21.5 per cent and 18.3 per cent respectively across nine months, ending December 2023 (9MFY24).
All three have seen AUM growth on a quarter-on-quarter (Q-o-Q) basis for the gold segments over the last three quarters. Muthoot and Manappuram maintained their FY24 guidance of 15 per cent and 10 per cent gold AUM growth. Domestic gold prices are up 3.4 per cent (February 2024 compared to April 2023) and 3.7 per cent up Q-o-Q in Q4 (January-March quarter) of FY24 till mid-March 2024.
Diese Geschichte stammt aus der March 16, 2024-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der March 16, 2024-Ausgabe von Business Standard.
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