PB Fintech Tops Global Fintech Index with 110% Surge in 2024

PB Fintech Ltd. has emerged as the top performer in the global fintech sector, with its stock rising approximately 110% in 2024. This remarkable growth makes it the best performer among major financial technology firms, surpassing other companies in the 52-member Solactive FinTech Index, which has seen a 15% increase this year. The surge follows a rebound in unsecured lending, which had previously been subdued by central bank regulations.

PB Fintech, which operates the insurance marketplace Policybazaar and credit provider Paisabazaar, turned profitable in the fiscal year ending March, following years of losses. Despite its impressive performance, challenges persist, including regulatory pressures and competition from rivals building their own direct-to-consumer platforms.

Currently, PB Fintech holds eight analyst buy ratings, seven holds, and four sells, with an average 12-month price target of 1,485 rupees ($17.7), about 11% below its current stock price.