11 November 2024
PB Fintech, the parent company of Policybazaar and Paisabazaar, is set to implement corrective measures to reduce operating costs at its financial services arm, Paisabazaar, due to a slowdown in unsecured loans. The company's workforce may face reductions as part of these cost-cutting initiatives. The decision follows a slowdown in unsecured loan growth, particularly in personal loans and credit cards, which has impacted Paisabazaar's performance. The company reported an 8% decline in revenue for Paisabazaar, which stood at Rs. 143 crore for Q2FY25. Loan disbursements, however, remained stable at Rs 4,237 crore. Unsecured loans account for around 70% of Paisabazaar's revenue, followed by credit cards at 20-25% and secured loans at 10%.
PB Fintech, the parent company of Policybazaar and Paisabazaar, is set to implement corrective measures to reduce operating costs at its financial services arm, Paisabazaar, due to a slowdown in unsecured loans. The company's workforce may face reductions as part of these cost-cutting initiatives. The decision follows a slowdown in unsecured loan growth, particularly in personal loans and credit cards, which has impacted Paisabazaar's performance. The company reported an 8% decline in revenue for Paisabazaar, which stood at Rs. 143 crore for Q2FY25. Loan disbursements, however, remained stable at Rs 4,237 crore. Unsecured loans account for around 70% of Paisabazaar's revenue, followed by credit cards at 20-25% and secured loans at 10%.
Stay Connected, Stay Informed –
Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.