Jana Small Finance Bank Ltd
NSE:JSFB
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Jana Small Finance Bank Ltd
Jana Small Finance Bank Ltd is a IN-based company operating in Banks industry. The company is headquartered in Bangalore, Karnataka. The company went IPO on 2024-02-14. Jana Small Finance Bank Limited is an India-based small finance bank. The firm has 771 banking outlets, including 278 banking outlets in un-banked rural centers, in 22 states and two union territories. The firm serves approximately 12 million customers, including 4.87 million active customers. The Company’s products and services include savings account, current account, deposits, loans, cards, online banking, payments, insurance and safe deposit locker facility. Its loan services include home loan, group loan, business loan for individuals, Agri individual loan, gold loan secured business loan, home improvement loan, two-wheeler loan and Agri group loan. Its online banking services include mobile banking, Internet banking and corporate Internet banking. Its saving account services include premium savings account, silver premium account, savings plus, video know your customer (KYC), salary account and DIGIGEN.
Jana Small Finance Bank Ltd is a IN-based company operating in Banks industry. The company is headquartered in Bangalore, Karnataka. The company went IPO on 2024-02-14. Jana Small Finance Bank Limited is an India-based small finance bank. The firm has 771 banking outlets, including 278 banking outlets in un-banked rural centers, in 22 states and two union territories. The firm serves approximately 12 million customers, including 4.87 million active customers. The Company’s products and services include savings account, current account, deposits, loans, cards, online banking, payments, insurance and safe deposit locker facility. Its loan services include home loan, group loan, business loan for individuals, Agri individual loan, gold loan secured business loan, home improvement loan, two-wheeler loan and Agri group loan. Its online banking services include mobile banking, Internet banking and corporate Internet banking. Its saving account services include premium savings account, silver premium account, savings plus, video know your customer (KYC), salary account and DIGIGEN.
Deposit Growth: Deposits grew 11% year-to-date and the bank crossed INR 32,532 crores, with CASA growing 14% year-to-date and 14% QoQ.
Cost of Deposits: Cost of deposits decreased by 10 bps in Q2 to 7.88%, and management expects the downward trend to continue as older, higher-cost deposits mature.
Secured vs. Unsecured Portfolio: Strong growth in secured assets (targeting 35%-40% growth this year), while unsecured asset growth has stabilized at 0.3% QoQ; nearly half of unsecured loans are now under government guarantee programs.
Margins: Net interest margin (NIM) for Q2 was 6.6%, down 10 bps from Q1 due to unsecured book contraction, but management expects NIM to trend toward 7% by year-end.
Profitability: Q2 PAT was INR 75 crores; H1 PAT was INR 177 crores, impacted by elevated provisions, including INR 222 crores of accelerated provisioning above regulatory norms.
Credit Cost Outlook: Management expects credit costs to decline by 40-50 bps next year as more of the unsecured portfolio is covered by guarantee schemes and recoveries improve.
Guidance: Gross loan and deposit growth targets remain at 20%, but PAT growth guidance is moderated to 0–2% due to MFI headwinds.
Universal Banking License: Process for a universal banking license is ongoing, with audits complete and responses to regulator queries underway.
