Jio Financial Services Limited held its annual general meeting on Thursday (August 28), when Managing Director and CEO Hitesh Sethia said the company’s NBFC loan book surged to ₹11,665 crore in Q1FY26 from just ₹217 crore a year earlier. He said value-added services and cross-selling opportunities within Reliance’s wider consumer ecosystem will support further growth.
Sethia said JioBlackRock’s mutual fund venture has mobilised more than ₹17,800 crore across its first two offerings, terming it one of the fastest scale-ups in the industry. He noted the business will continue to expand with fresh capital infusion and a planned reinsurance joint venture with Allianz.
On the payments and banking side, Jio Payment Solutions processed over ₹21,400 crore worth of transactions in FY25, with the quarterly run rate in Q1FY26 rising 93% year-on-year to ₹7,717 crore.
Jio Payments Bank increased its CASA (current account savings account) base to 2.58 million and deposits to ₹358 crore, supported by a network of over 50,000 business correspondents. The bank is preparing to launch Savings Pro, a savings account linked to overnight mutual funds.
Also Read: Jio Financial Services Q1 Results: Revenue up 47% YoY, profit rises to ₹325 crore
The JioFinance app, integrated with MyJio, averaged 8.1 million monthly active users in Q1FY26, aided by the adoption of mutual funds, tax filing and partner solutions.
Shares of Jio Financial Services Ltd ended at ₹310.10, down by ₹5.65, or 1.79%, on the BSE today (August 28).
Also Read: Jio Financial Services shares up 5.5% on foray into digital loans against securities
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First Published: Aug 28, 2025 5:20 PM IS
