On his appointment, Swaminathan said JioBlackRock Asset Management aims to digitally deliver institutional quality investment products to investors across. “I am honoured to lead JioBlackRock Asset Management and help transform asset management in India by empowering investors to directly harness the potential of investing.”
Amid the development, Jio Financial Services shares are trading 1.85% up (2.03 PM) at ₹286.95 on the BSE.
Jio Financial Services rose its profit 2% year-on-year to ₹316 crore for the quarter ended March 31, 2025. For the full financial year, the company reported a profit of ₹1,613 crore. Total income for the fourth quarter stood at ₹518 crore, up 24% year-on-year. Jio Financial Services’ asset under management stood at ₹10,053 crore as of March 31, 2025, up from ₹173 crore as of March 31, 2024, and ₹4,199 crore as of December 31, 2024.
The JFSL group’s physical footprint also grew during the year, with Jio Finance Ltd establishing a physical presence in 10 Tier-1 cities, which are exhibiting strong demand for its suite of retail and corporate lending solutions. Jio Payments Bank Limited, which had 2.31 million customers as on March 31, 2025, expanded its network of Business Correspondents (BC) to 14,000+ BCs, an over six-fold increase over FY24.