Emerging Entrepreneurs

RBL Bank buys 100% stake in Swadhaar Finserve

| Updated on July 09, 2018 Published on July 09, 2018

RBL Bank has bought out the balance stake in Swadhaar Finserve Pvt Ltd, an exclusive business correspondent for RBL Bank engaged in offering services to the under-banked segment in rural and semi-urban areas. RBL, which previously held a 60.48 per stake in Swadhaar, bought the balance 39.52 per cent stake from marquee investors, including US-headquartered non-profit Accion, which sold its 35.94 per cent stake in Swadhaar.

RBL bought the balance stake at a mutually agreed price per share and did not disclose the transaction amount. Swadhaar is a last-mile distributor of financial services and products to low-income households and micro-enterprises. Swadhaar has a network of 331 branches in 16 States and two Union Territories.

It transformed from a non-banking finance company to a banking correspondent and it has assets under management of ₹2,000 crore and reaches 7.5 lakh customers. RBL’s acquisition of Swadhaar is to strengthen its inclusive finance segment.

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Published on July 09, 2018
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