Elevated credit costs may persist beyond Q2
Management expects improvement in H2, but if collection efficiencies do not normalize, credit costs could remain above guidance.
BAJFINANCE / Q1-FY25 / risks
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Bajaj Finance · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
NIM compression from mix shift and cost of funds
NIM compressed 23 bps in Q1, partly due to AUM mix shift. Further compression may occur if cost of funds remains elevated.
Rural B2C portfolio stress and slow growth
Rural B2C portfolio grew only 5% in Q1, with elevated delinquencies. Management is pruning exposures, but recovery may take time.
Competitive intensity in unsecured lending
Large banks, especially PSUs, remain aggressive in personal loans, potentially pressuring market share and pricing.