**Bajaj Finance’s Rajeev Jain Plans Continued Involvement in Strategic Direction Post-Term**
Mumbai: As his current term approaches its conclusion in just over two months, Rajeev Jain, managing director of Bajaj Finance Ltd, intends to stay engaged in shaping the strategy of the non-bank financier in his future capacity. Jain was reappointed as managing director in March 2020 for a five-year term starting April 1. In January 2024, Bajaj Finance announced several leadership changes.
During a recent call with analysts, Jain revealed that the lender has implemented a detailed 15-month transition plan, of which 12 months have already elapsed. He mentioned that this plan will be evaluated by the board’s nomination and remuneration committee by March. “Pending the board’s decision, I aim to continue with Bajaj Finance and remain actively involved in directing the strategy of BFL and its subsidiaries to achieve both short-term and medium-term objectives,” he stated. “This is how I envision my future role, contingent on the board’s decision.”
Jain joined Bajaj Finance as CEO in 2007 and became managing director in 2015. Prior to his tenure at Bajaj, he held positions at GE, American Express, and the American International Group (AIG).
In financial news, Bajaj Finance reported a net profit of ₹4,308 crore for Q3, marking an 18% year-on-year increase. Jain commented, “It was a strong quarter in terms of volumes, assets under management, and operating expenses. Loan losses have stabilized; profit growth is gaining momentum, and return on assets remains steady.” The company highlighted that it recorded its highest-ever new loans at 12.06 million and welcomed 5.03 million new customers.
Bajaj Finance’s assets under management rose by 28% to ₹3.98 trillion in Q3 FY25, compared to ₹3.1 trillion as of December 31, 2023. Its net interest income increased by 23% to ₹9,382 crore in Q3, up from ₹7,655 crore in Q3 of FY24. As of December 31, the company’s gross non-performing assets (NPA) and net NPA stood at 1.12% and 0.48%, respectively, compared to 0.95% and 0.37% a year earlier.
