SMFG India Credit raises $175 million for lending expansion

SMFG India Credit (SMICC) has raised $175 million through External Commercial Borrowing (ECB). The funding was arranged by Standard Chartered Bank and CTBC Bank. The company has fully hedged this borrowing to reduce risks from currency and interest rate changes. The funds are aimed at increasing SMICC's lending capacity and supporting its customers. Pankaj Malik, the Chief Financial Officer of SMFG India Credit, commented on the news. He stated that this lending facility shows the company’s strong financial health and positive growth outlook. He also noted that the successful funding reflects global banks' confidence in SMFG's business and future plans. With this new funding, SMICC plans to enhance its lending options. This will help both individuals and businesses gain better access to credit while keeping risk management in check.