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IIFL Finance is looking to increase its co-lending book to Rs 15,000 crore by March 31 from Rs 10,576 crore currently. “The co-lending book will grow steadily from current levels,” said founder and chairman Nirmal Jain.
Currently, the company has 15 co-lending partners including DCB Bank and State Bank of India. The non-bank lender’s co-lending book rose 125% year-on-year(y-o-y) as on September 30. In comparison, the consolidated loan assets under management rose 32% y-o-y to Rs 73,066 crore. He added that IIFL’s assets under management has been rising at 25% a year and it plans to continue growing at the same pace.
In the September quarter, the non-bank lender has witnessed a sizeable growth in the microfinance and digital loan segment. “In digital loans, our focus is on MSME loans and we have been building the model for the last 7 years. These loans are end-to-end digital. As digital infrastructure grows, this business can grow faster,” he said.
