Jio Financial Services Limited (Jio Financial Services) has bought 7,90,80,000 equity shares at Jio Payments Bank Limited (JPBL). The purchase was made from State Bank of India for Rs 104.54 crore. Jio Financial Services has told the stock markets that the deal was approved by the Reserve Bank of India on June 4, 2025. After the transaction, the Jio Payments Bank has become a full-owned subsidiary of Jio Financial Services. Earlier, Jio Payments Bank was running as a joint venture between Jio Financial Services and SBI.
The share of Geo Financial Services closed on June 18 at Rs 288, down 0.62 percent on BSE. The company’s market cap is close to Rs 1.83 lakh crore. The stock has strengthened by about 28 percent in 3 months. The company had a 47.12 percent stake in the company till the end of March 2025.
Jio Payments Bank is running since April 2018
Jio Payments Bank is operational from April 2018. Reliance Industries received a license from the Reserve Bank of India in August 2015 to start this. After this, Reliance Industries partnered with State Bank of India and in November 2016, Jio Payments Bank Limited incorporated. The bank has increased its customer base three times to 23.1 lakh customers. Its CASA (current account savings account) and wallet deposits have increased to Rs 295 crore.
In March quarter Jio Financial Services Profit increased by 2 percent
Jio Financial Services Investment and Financing, Insurance Broking, Payments Bank, Payment Agriculture and Payment Gateway Services separated from Reliance Industries Limited. The January-March 2025 quarter of Jio Financial Services recorded a net consolidated profit of Rs 316.11 crore on an annual basis with a 1.7 percent increase. It was Rs 310.63 crore a year ago. Consolidated revenue from the operations increased by 18 percent to Rs 493.24 crore as compared to a year ago. It was Rs 418.10 crore in the March 2024 quarter.
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During the entire financial year 2025, the consolidated revenue of Geo Financial Services was increased to Rs 2,042.91 crore. A year ago it was Rs 1,853.88 crore. The net profit also increased to Rs 1612.59 crore, which was Rs 1,604.55 crore in FY 2024. The board of Geo Financial Services had recommended a final dividend of Rs 0.50, or 50 paise per share for FY 2025. The record date for dividend has not been announced yet.
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