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Bank of America to acquire up to 49.9% of Jio Credit in JV pact

Bank of America logoBank of America
Sig3.04Sen+4.83Env0.00Soc+1.71Gov+1.15

Bank of America signed a definitive joint venture agreement with Jio Financial Services to invest about ₹18,268 crore (~$1.9B) for an initial 26.5% equity stake in Jio Credit Limited, rising to up to 49.9% after warrant exercise. The NBFC’s AUM reached ₹30,667 crore within two years, and the partnership aims to expand access to financial services.

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