DBS Bank India acquires 9.9% stake in Svakarma Finance

Our Bureau | | Updated on: Jun 20, 2022
DBS Bank did not disclose the transaction value.

DBS Bank did not disclose the transaction value. | Photo Credit: BIJOY GHOSH

Svakarma to deliver financial solutions to micro enterprises through a combination of direct lending and co-lending

DBS Bank India Ltd (DBIL) has acquired a 9.9 per cent stake in Svakarma Finance, a non-banking finance company, to deliver financial solutions to micro enterprises through a combination of direct lending and co-lending.

However, the bank, which is a wholly owned subsidiary of DBS Bank Ltd., Singapore, did not disclose the transaction value.

DBIL’s strategy for its expanded franchise across 300 plus locations and 500 plus branches envisages significant growth in SME and consumer businesses, per the bank’s statement.

DBS will continue to identify opportunities to support lending to micro enterprises in a cost-efficient manner through its own expanded franchise as well as through partners, it added.

Published on June 20, 2022
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