SMFG India Secures €91 Million Loan from Deutsche Bank
Deutsche Bank has provided a €91 million loan to SMFG India Credit for onlending to small businesses and women borrowers in underserved areas. The sustainability-linked loan promotes financial inclusion and sustainable growth.
Mumbai, Dec 9 (PTI) German lender Deutsche Bank on Monday said it has provided a loan of 91 million euros (about Rs 813 crore) to non-banking financial company SMFG India Credit.
It is a three-year sustainability-linked loan which will be deployed by the local arm of Japan's SMFG for onlending towards small businesses and women borrowers in the underserved semi-urban areas, a statement said.
The senior secured loan was facilitated via Deutsche Bank's Gift City Branch.
SMFG India Credit's chief financial officer Pankaj Malik said the loan aligns with the company's commitment to sustainable growth and financial inclusion.
The company has over 1,000 branches and nearly Rs 50,000 crore of Assets Under Management (AUM) as of September.
"The completion of this sustainability-linked loan reinforces our commitment to promoting sustainable finance in India," said Rajesh Thakur, Head of Cash Management and Trade Finance at Deutsche Bank AG.
It is a three-year sustainability-linked loan which will be deployed by the local arm of Japan's SMFG for onlending towards small businesses and women borrowers in the underserved semi-urban areas, a statement said.
The senior secured loan was facilitated via Deutsche Bank's Gift City Branch.
SMFG India Credit's chief financial officer Pankaj Malik said the loan aligns with the company's commitment to sustainable growth and financial inclusion.
The company has over 1,000 branches and nearly Rs 50,000 crore of Assets Under Management (AUM) as of September.
"The completion of this sustainability-linked loan reinforces our commitment to promoting sustainable finance in India," said Rajesh Thakur, Head of Cash Management and Trade Finance at Deutsche Bank AG.
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