Fincos’ loan books to grow at 22% for next 2 yrs: S&P report

New Delhi: India’s top-rated finance companies (fincos) are projected to grow their loan books at 21-22 per cent over the next two years -- higher than 11-12 per cent for banking sector loan growth, thus grabbing market share from banks, a report said on Thursday.

One driver for the sector is its strong presence in retail lending, which is still underpenetrated in India, S&P Global Ratings said in its report.

Upper-layer fincos have strong capital levels, which will support high loan growth and provide downside buffers.