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Analysts believe the continued aggression of banks and fintechs would make gold loan NBFCs pivot their business models to lower spreads and margin
Gold prices have regained footing following some significant losses and a comparable softer US Dollar
Asset quality worsened during the quarter as gross non-performing asset (NPA) and net NPA ratio increased by 160 basis points (bps) and 170 bps quarter on quarter (QoQ) to 3 per cent and 2.7 per cent.
The management of Muthoot Finance is optimistic about growing the company's gold loan book further and maintains 15 per cent growth guidance for FY22.
While stocks of Muthoot Finance and Manappuram Finance fell, impact of new lending norms is limited