Jio Financial bets big on AI-led finance as FY26 income jumps 78%; JioCredit AUM surges 156% to ₹25,711 crore

Strapline:Annual report outlines 'Intelligent Finance' strategy, with AI at the core as Jio BlackRock crosses ₹16,000 crore AUM and Jio Payments Bank expands to 3.7 million customers.

Jio Financial Services Ltd (JFSL) has laid out an ambitious roadmap to transform into an artificial intelligence-led financial services platform, betting on hyper-personalised digital offerings, strategic global partnerships and rapid expansion across lending, payments, wealth management and insurance to drive its next phase of growth.

The company's FY26 Annual Report highlights a year of sharp financial and operational expansion, with consolidated total income, excluding dividends, rising 78 per cent year-on-year to ₹3,274 crore. Core business operations income grew 272 per cent to ₹1,390 crore, accounting for more than half of the company's net total income, while pre-provision operating profit (excluding dividends) stood at ₹1,357 crore.

AI takes centre stage in growth strategy

Chairman K.V. Kamath said India's improving macroeconomic fundamentals and stronger banking system have created the foundation for the country's long-term economic ambitions. He emphasised that artificial intelligence should be viewed as an accelerator rather than a disruption.

"AI is not a threat, but a necessary fuel accelerating economic progress," Kamath said, adding that digital-native financial platforms would redefine industry leadership while strategic partnerships with BlackRock and Allianz would help deliver world-class financial services to Indian consumers.

Non-Executive Director Isha M. Ambani described FY26 as a defining year in building "Intelligent Finance", highlighting the emergence of a new generation of digitally native consumers seeking frictionless and personalised financial experiences.

She said the JioFinance app is evolving towards an "N=1" model powered by Agentic AI, enabling tailored financial solutions for every individual while leveraging the wider Jio ecosystem's reach across hundreds of millions of users.

Lending, payments and wealth businesses gather momentum

Managing Director and CEO Hitesh Sethia said the company had moved beyond building capabilities to operating at scale across businesses under its "Fintelligence For All" strategy.

"We transitioned from building foundational capabilities to operating at a meaningful scale across all business lines," Sethia said, noting that the transformed JioFinance app has evolved into a neural agentic marketplace serving 23 million unique users across digital properties.

Operational metrics reflected the broad-based growth. Jio Credit's assets under management (AUM) climbed 156 per cent year-on-year to ₹25,711 crore, while Jio Payments Bank increased deposits 84 per cent to ₹544 crore across 3.7 million customers. Jio Payment Solutions processed over ₹52,000 crore in total payment volume, up 144 per cent, and JioBlackRock Asset Management crossed ₹16,000 crore in AUM within its first year of operations. Jio Insurance Broking facilitated premiums worth ₹982 crore during the year, while the company's financial products and services became available across more than 19,000 PIN codes nationwide.

AI-led automation drives efficiencies

Beyond financial growth, JFSL underscored its technology-first strategy by deploying more than 14 Agentic AI and over 15 data science use cases across businesses. The company said these initiatives have shortened product deployment cycles from months to weeks, lowered operating costs by around 30 per cent and significantly improved turnaround times. Across its lending, payments, insurance and wealth management businesses, AI is increasingly powering risk assessment, customer service, transaction routing and hyper-personalised investment recommendations, reinforcing JFSL's ambition to build a digital-first financial ecosystem for India,