Jana Small Finance Bank share price in focus: Shares of Jana Small Finance Bank, one of India’s leading small finance banks, rose 6.5% to ₹553 apiece in early trade on Tuesday, June 10, after the bank announced on Monday that it had formally submitted an application to the Reserve Bank of India (RBI) seeking approval to transition into a universal bank.
The strategic move marks a significant milestone in Jana Bank’s growth journey and reflects its long-term commitment to financial inclusion, innovation, and sustainable banking, the bank said in a statement.
Over the past several years, Jana SFB has successfully built a strong retail and MSME franchise, expanded its digital and physical footprint across the country, and consistently delivered on key financial and governance metrics. Since receiving its SFB licence in 2017, Jana has developed a robust portfolio in deposits, loans, and financial services tailored to individuals, MSMEs, and institutions.
With a growing deposit base, national presence, digital services, and a strong asset quality track record, the bank believes it is well-positioned to take the next step in its evolution.
For the quarter ended March, the₹123.47 crore, compared to ₹321.67″> company reported a 62% decline in net profit to ₹123.47 crore, compared to ₹321.67 crore in the same period a year earlier, impacted by deferred tax assets and higher operating expenses. However, interest income rose nearly 8% to ₹1,999.27 crore during the January–March quarter of FY25, up from ₹1,111.84 crore in the corresponding quarter last year.
Jana Small Finance Bank share price trend
So far in the current month, shares of the bank have gained over 12%, after losing 4% in May. The stock was listed on Indian exchanges in February 2024 at ₹396 apiece, slightly below its IPO price of ₹414.
At current levels, the stock is trading 31% above its IPO price but remains 30% below its all-time high of ₹760.85, last seen in June 2024.
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