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Retail loans grew ~28% YoY; retail mix now at ~96%

Wholesale loans could have potentially declined to ~INR37b

* Retail disbursements for 2QFY25 rose ~12% YoY and ~2% QoQ to INR151b (PY: INR148b).

* Rural business disbursements declined 5% YoY. Farmer finance disbursements grew 16% YoY and urban finance disbursements grew 29% YoY.

* MFI disbursements declined only ~6% QoQ. It is noteworthy that while there was a significant decline in disbursements across the MFI sector, LTFH's MFI business continued to remain healthy, exhibiting only a minor sequential decline in disbursements compared to the last quarter.

* Retail loan book grew 28% YoY and 5% QoQ to INR890b.

* Retail loan mix increased to ~96% (PQ: 95%) and was well ahead of Lakshya’s FY26 retail mix target of over 80%. This implies that the wholesale book could have potentially declined to ~INR37b (PQ: ~INR43b).

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