Elevated credit costs in unsecured portfolios
Credit cost guidance of 185-195 bps remains above pre-COVID levels, with urban personal loan portfolio still maturing.
high · management_commentaryBajaj Finance Ltd — Q4 FY25
Bajaj Finance reported a mixed Q4 FY25 with strong AUM growth of 26% to INR 416,061 crore and record loan bookings of 10.7 million, but PAT growth of 19% to INR 4,546 crore was...
neutral
high
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Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
NIM compression from fee moderation and delayed rate cuts
Management expects stable NIMs, but fee income growth is moderated to 13-15% and cost of fund benefits may be slower than anticipated.
medium · analyst_questionSurplus capital weighing on ROE
Excess capital from BHFL listing and QIP is pressuring ROE; long-term ROE guidance reduced to 19-21% from 21-23%.
medium · management_commentaryTwo-wheeler/three-wheeler captive book wind-down risk
The winding-down captive portfolio (INR 10,000 crore) contributes disproportionately to credit costs; any delay in wind-down could impact asset quality.
low · data_observation