Jio Financial acquires JPBL’s balance stake for ₹104.54 Crore

19 Jun 2025 , 12:35 PM

Jio Financial Services Limited informed the bourses and shareholders that it has picked up 7,90,80,000 equity shares of Jio Payments Bank Limited (JPBL). The company has acquired the stake from State Bank of India (SBI) for a consideration of ₹104.54 Crore. The deal secured approval from the Reserve Bank of India’s (RBI) approval on June 4, 2025.

After the completion of the stated transaction, Jio Payments Bank has become a 100% subsidiary of Jio Financial Services. Before this, Jio Payments Bank operated as a Joint Venture between Jio Financial Services and the SBI.

Jio Financial Services posted a 18% year-on-year growth in its revenue for the quarter ended March 2025. The company posted a revenue of ₹493.20 Crore. This was backed by a robust growth in lending, leasing, and digital financial services. For the quarter ended March 2025, the business reported a net profit of ₹316 Crore, against ₹310.60 Crore in the previous corresponding period.

The company witnessed a surge in assets under management (AUM) to ₹10,053 Crore as of March 31, 2025. In the previous corresponding period, the business reported an AUM of ₹173 Crore. 

Jio Payments Bank (JBPL) tripled its customer base to 2.31 million and boosted its CASA and wallet deposits to ₹295 Crore. 

With this pending acquisition, the business will further be able to consolidate its position.

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