SMFG India Credit (SMICC) has successfully raised USD 175 million through External Commercial Borrowing (ECB), a significant milestone in its financial journey. The syndicated loan facility has been jointly arranged by Standard Chartered Bank (SCB) and CTBC Bank, reinforcing SMFG India Credit’s position as a robust and growth-oriented Non-Banking Financial Company (NBFC).
Strengthening Lending Capabilities
The funds raised will be strategically deployed to expand SMFG India Credit’s lending portfolio, enabling greater financial access for individuals and businesses across various segments. In a move to mitigate foreign exchange and interest rate fluctuations, the company has fully hedged the facility, showcasing its prudent risk management approach.
Mr. Pankaj Malik, Chief Financial Officer of SMFG India Credit, expressed confidence in this financial development, stating, “This syndicated loan facility is a testament to SMFG India Credit’s strong financial standing and robust growth outlook. The successful closure of this transaction demonstrates the confidence of global banking partners in our business fundamentals and long-term vision. With this funding, we aim to strengthen our lending capabilities, ensuring greater access to credit for individuals and businesses while maintaining a prudent risk management framework.”
A Step Towards Financial Resilience
This transaction further cements SMFG India Credit’s reputation as a financially resilient NBFC committed to delivering innovative and sustainable financing solutions. With a focus on providing accessible lending options, the company continues to expand its reach, offering a comprehensive range of products, including SME financing, commercial vehicle and two-wheeler loans, home loans, personal loans, and rural livelihood advancement loans.
About SMFG India Credit Co. Ltd
SMFG India Credit Co. Ltd. (formerly Fullerton India Credit Co. Ltd.) is a leading NBFC-Investment and Credit Company (NBFC-ICC) registered with the Reserve Bank of India. A wholly owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), it has been serving the Indian market since 2007. Operating through 1,000 branches across 670+ towns and 70,000+ villages, SMFG India Credit, along with its subsidiary SMFG Grihashakti (SMFG India Home Finance Co. Ltd.), provides lending solutions to underserved and unserved retail and small business borrowers.
About Sumitomo Mitsui Financial Group (SMFG)
Headquartered in Japan, SMICC is one of the largest global banking and financial service groups, offering a diverse range of services, including commercial banking, leasing, securities, and consumer finance. Listed on the Tokyo and New York Stock Exchanges, SMFG has a market capitalization of approximately USD 93.5 billion (as of December 31, 2024). Recognized as one of the Global Systemically Important Banks (G-SIBs), SMICC holds high credit ratings of A1 by Moody’s Investors Service and A- by Standard & Poor’s.
Driving Financial Inclusion
SMICC’s latest fundraising initiative is a strong indicator of its long-term vision and commitment to financial inclusion. By leveraging strategic global partnerships, the company continues to play a pivotal role in expanding credit accessibility and fostering economic growth in India.
With this latest funding, SMICC is set to scale new heights in the financial sector, reinforcing its role as a key enabler of economic progress in the country.
