Hinduja Group Eyes Expansion in Philippines and Equirus Group Ventures into Non-Banking

The Hinduja Group plans to expand its investments in the Philippines across various sectors such as defence, energy, automotive, and digital technology. Meanwhile, Equirus Group gained Reserve Bank of India approval to start a non-bank lender, aiming for a significant loan portfolio to complement its advisory services.

The Hinduja Group is set to explore extensive investment opportunities in the Philippines, targeting key sectors including defence, energy, automotive, and digital technology, according to their announcement on Friday. This comes after a meeting between the group's representatives and visiting Philippine President Ferdinand Marcos Jr.

A letter of intent was signed, indicating the group's commitment to deepening its footprint in the Southeast Asian nation, a testament to the strengthening ties between Hinduja Group and the Philippines.

In parallel, the Equirus Group has secured the Reserve Bank of India's approval to establish a non-bank lending entity. This strategic move is expected to enhance the integration of the group's wealth and corporate advisory services, with an ambitious plan to achieve a Rs 3,000-crore loan book.

(With inputs from agencies.)