Bajaj Finance Ltd.

Bajaj Finance’s current loan growth is around 30 percent and the company expects the full year loan growth at 25 percent. The company intends to convert itself from a non-banking financial company (NBFC) into a full-fledged Bank for which it has already applied for a licence.

Bajaj Finance, a subsidiary of Bajaj Finserv, is engaged in the business of consumer finance, SME finance and commercial lending. Bajaj Finserv proposes to convert Bajaj Finance into a bank as per the Reserve Bank of India’s February 2013 guidelines.

The company has reported 20.59% rise in its net profit at Rs 194.14 crore for third quarter ended December 31, 2013 as compared to Rs 160.09 crore for the same quarter in the previous year. Total income of the company has increased by 30.63% at Rs 1081.90 crore for quarter under review as compared to Rs 828.23 crore for the quarter ended December 31, 2012.