Shriram Finance Grows SME Loan AUM in TN | Q3 2024

Chennai, Mar 27 (PTI) Shriram Finance Ltd, the flagship company of the diversified conglomerate Shriram Group has made total assets under management (AUM) of Rs 8,938.61 crore during the October-December 2024 quarter strengthening its small and medium enterprises portfolio in the State, a top official said.

The city-based company had made AUM of Rs 5,170.49 crore under the SME vertical during the corresponding quarter of last financial year.

The growth in the SME loan was in the backdrop of increasing demand from various industries including manufacturing, automobile parts, production and construction.

The company is expanding its branch network and prioritising digital lending to professionals and enterprises. It has targeted a continued growth in the SME lending segment and to garner a larger market share with its lending strategy and customer centric-approach.

"The SME sector is a vital engine of economic growth, contributing significantly to GDP and employment. At Shriram Finance, our focus remains on expanding credit access to SMEs, empowering production units, industrial manufacturers, transport operators and the unorganised sector," said the company's Deputy Managing Director Muruganandha Pandiyan in a statement on Thursday.

Shriram Finance Ltd continues to solidify its leadership in the SME lending space, supporting entrepreneurs and businesses across Tamil Nadu.

"With the government's continued emphasis on financial inclusion, digital transformation, and credit facilitation through initiatives like CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises), SMEs are set to grow further, enhancing their competitiveness and resilience in a dynamic economy," he added.