Magma Fincorp, non-banking finance company is planning to increase its retail loans disbursement in Andhra Pradesh by 21% in FY13. It has disbursed Rs 782 crore in Andhra Pradesh last year. With this initiative, it aims to provide asset finance to the economically disenfranchised segment in Andhra Pradesh.
The entity has reported a net profit of Rs 144.9 crore in FY'13 with average assets under management of Rs 18,378 crore by the end of this period. It had reported a NIM of 4.91% in the last fiscal compared to 3.40% a year earlier.
