Thursday, Jun 21 2018 | Time 10:14 Hrs(IST)
image
image
  • UN celebrates first Int'l Day of Yoga
  • Pokhrel to officiate PM's duties during Oli's China visit
  • Yoga is new mass movement globally, says PM
  • PM leads nation in celebrating International Yoga Day
  • PM leads nation in celebrating International Yoga Day
  • Floral tributes paid to police constable martyred in Kashmir
  • Train services suspended in Kashmir for security reasons
  • Renowned humourist Mushtaq Ahmad Yousufi to be laid to rest in Karachi
  • US identifies N Korea missile test site it says Kim committed to destroy
  • N Korea, China leaders agree to boost 'strategic, tactical' cooperation -KCNA
  • North Korea, China discuss 'true peace', denuclearisation -KCNA
  • Trump backs down, signs order to end family separations at U S border
  • Spain beat Iran 1-0 with Costa's third goal of World Cup
  • U S lawmakers want Google to reconsider links to China's Huawei
Business Economy Share

BankBazaar operating revenue up by 91 pc in FY18

BankBazaar operating revenue up by 91 pc in FY18

Chennai, June 13 (UNI) Leading online financial services marketplace BankBazaar announced a 91 per cent growth in the company’s operating revenues for FY18.

The operating revenue grew to Rs103-crore up from Rs54-crore in FY17.

The company’s total revenues for FY18 also grew to Rs 118-crore from Rs 71-crore in FY 17.

According to the company, this revenue growth was fueled largely by an increase in organic visits, which accounted for almost 70 per cent of the total traffic.

BankBazaar over the years has become synonymous with personal finance in India. In FY18, the website traffic more than doubled and as many as 42 per cent of these were returning visitors.

Over 57mn people searched for credit cards while 63.5mn people searched for loans on BankBazaar. The high number of organic and returning customers helped BankBazaar control customer acquisition costs.

This is evident from the fact that the total marketing costs including brand marketing as a percentage of revenue fell by 30 per cent compared to the previous year. Further, salary cost as a percentage of revenue also fell by 43 percent, which indicates strong economies of scale as the tech-driven platform continues to grow.

Consequently, EBITDA losses as percentage of revenue came down by 34 per cent, highlighting the efficiency with which BankBazaar has managed to rein in overall expenses, the company said.

BankBazaar is expecting over 400mn visitors in FY19. The company is also preparing for an IPO in 2020-22, it added.

UNI JPG SNU 1814

More News

Bank of Baroda collaborates with IBM

20 Jun 2018 | 8:31 PM

Mumbai, Jun 20 (UNI) Bank of Baroda, India's second largest public
sector bank, on Wednesday announced a collaboration with global
technology majors, IBM and Accenture, to power a 'state-of-the-art'
IT Center of Excellence and Analytics Center of Excellence,
respectively.

 Sharesee more..

Cross-Border Insolvency: MCA invites views on introductory note & draft

20 Jun 2018 | 7:55 PM

New Delhi, June 20 (UNI) The Ministry of Corporate Affairs (MCA) has invited comments and views from stakeholders on introductory note and draft on ‘Cross-Border Insolvency.

 Sharesee more..

L&T Finance opens its 1000th meeting center

20 Jun 2018 | 7:48 PM

New Delhi, June 20 (UNI) Non-banking financial service company L&T Finance Holdings through its subsidiary L&T Finance (LTF), announced the opening of its 1000th meeting center in Kolkata, West Bengal, for its micro loans business.

 Sharesee more..

Working on dismantling non & para-tariff barriers with India: Bangladesh HiCOM

20 Jun 2018 | 7:46 PM

New Delhi, June 20 (UNI) India and Bangladesh are working on dismantling the Non-Tariff and Para-Tariff Barriers, said High Commissioner of Bangladesh Syed Muazzem Ali.

 Sharesee more..

RK Singh calls for clean environment for future generations

20 Jun 2018 | 7:41 PM

New Delhi, June 20 (UNI) India is making rapid strides in the field of renewable energy and we will overshoot the target of 175 GW renewable energy by 2022, said Minister of State(IC) for Power and New & Renewable Energy R.

 Sharesee more..
image