fintech / news / / The Financial Express
Contrary to expectations at the time of demerger, the company chose to begin with secured lending rather than unsecured products.
Jio Financial's lending book is currently 54% secured, prioritizing property and financial asset-backed loans.
KEY POINTS
- Unsecured loans and credit cards offered on Jio Financial's platform are not on its own balance sheet.
- The company has received a reinsurance licence and is formalizing joint ventures for life and general insurance.
- Jio Financial's consolidated net profit dropped 14% year-on-year, despite a 97% income rise this quarter.
- Jio BlackRock's asset management JV reached Rs 16,712 crore AUM in just nine months of operation.
COMPANIES
Summarized by Newsio from The Financial Express. How we summarize →