06:00 - 13.08.2026

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August 13, Fineko/abc.az. Bank of America (BofA) is set to acquire up to a 49.9% stake in Jio Credit, the non-banking lending arm of India-based Jio Financial Services, for 182.68 billion rupees ($1.92 billion).

According to the joint agreement, the US bank will become a joint venture partner via the preferential allotment of shares and warrants. BofA will initially hold a 26.5% stake in Jio Credit, with the potential to increase its holding to 49.9% upon the exercise of warrants.

The deal marks one of the largest recent foreign investments in India's financial services industry, enabling Bank of America to strengthen its presence in the rapidly expanding Indian market alongside a leading domestic partner.