As a result of this acquisition, Jio Payments Bank has now become a wholly-owned subsidiary of Jio Financial Services. Previously, it functioned as a joint venture between Jio Financial Services and SBI.
Jio Financial Services reported an 18% year-on-year (YoY) growth in Q4 revenue, reaching ₹493.2 crore, bolstered by significant increases in lending, leasing, and digital financial services. The net profit for the March quarter saw a 1.7% rise to ₹316 crore, up from ₹310.6 crore a year ago.
Also Read: Jio BlackRock secures SEBI nod to operate as investment adviser
A major highlight for the full year was the significant rise in assets under management (AUM), growing to ₹10,053 crore as of March 31, 2025, from just ₹173 crore the prior year. This remarkable growth was largely driven by Jio Finance Limited (JFL), which enhanced its lending and leasing activities while broadening its reach to 10 tier-1 cities.
On the payments side, Jio Payments Bank Limited (JPBL) has tripled its customer base to 2.31 million and increased its CASA (current account savings account) and wallet deposits to ₹295 crore. The pending acquisition of SBI’s stake in JPBL is anticipated to further strengthen its position.
Carved out from Reliance Industries Ltd, Jio Financial Services is involved in investing and financing, insurance broking, payment bank operations, as well as payment aggregator and gateway services.
Shares of Jio Financial Services Ltd closed at ₹288, down by ₹1.80, or 0.62%, on the BSE.
Also Read: Jio Financial Services shares up 5.5% on foray into digital loans against securities
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(Edited by : Shoma Bhattacharjee)
First Published: Jun 18, 2025 5:55 PM IST
