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Reliance's Jio Payments Bank Now Fully Owned by Jio Financial Services
ByAinvest
Thursday, Jun 19, 2025 8:27 am ET1min read
Jio Financial Services has acquired the entire 17.8% stake in Jio Payments Bank from State Bank of India, making it a wholly-owned subsidiary. The deal, valued at Rs1.04bn ($12.05m), received RBI approval earlier this month. This acquisition supports Jio's digital-first strategy, aligning with Jio BlackRock Mutual Fund's introduction of Aladdin, a global risk-management platform in India.
Jio Financial Services Limited (JFSL) has completed the acquisition of the entire 17.8% stake in Jio Payments Bank Ltd. from State Bank of India (SBI), making it a wholly-owned subsidiary. The deal, valued at approximately INR 1.04 billion ($12.05 million), received approval from the Reserve Bank of India (RBI) on June 4, 2025, and was finalized on June 18, 2025 [1].The acquisition aligns with JFSL's strategic focus on digital financial services and supports the company's broader digital-first strategy. This move follows Jio BlackRock Mutual Fund's recent introduction of Aladdin, a global risk management platform from BlackRock, aimed at offering innovative and affordable investment products to Indian investors [2][3][4].
JFSL reported a marginal 2% growth in its consolidated net profit at Rs 316 crore in the fourth quarter of FY25, compared to Rs 311 crore in the same quarter of the previous year. The company's revenue from operations during the reporting period rose 18% year-on-year (YoY) to Rs 493 crore, highlighting its robust financial performance [2].
The acquisition of Jio Payments Bank further strengthens JFSL's position in the digital payments sector, leveraging its digital-first approach and deep understanding of the local market. This move is expected to enhance JFSL's ability to offer comprehensive financial services to its customers, including innovative investment products through Jio BlackRock Mutual Fund [2].
References:
[1] https://www.marketscreener.com/quote/stock/JIO-FINANCIAL-SERVICES-LI-157409091/news/Jio-Financial-Services-Limited-completed-the-acquisition-of-remaining-17-83-stake-in-Jio-Payments-B-50276615/
[2] https://economictimes.indiatimes.com/markets/stocks/news/jio-financial-services-takes-full-control-of-jio-payments-bank-with-rs-104-5-crore-sbi-stake-buy/articleshow/121931287.cms
[3] https://m.economictimes.com/mf/mf-news/jioblackrock-mutual-fund-announces-launch-of-investment-management-platform-aladdin/articleshow/121909779.cms
[4] https://www.latestly.com/agency-news/india-news-jio-blackrock-mutual-fund-launches-investment-management-platform-aladdin-6932570.html
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