SMFG's Record Investment Boosts India Operations

Sumitomo Mitsui Financial Group invests Rs 3,000 crore in SMFG India Credit to boost business, including Rs 300 crore for SMFG India Home Finance. This marks a record Rs 4,300 crore capital infusion in 2024, reflecting SMFG's commitment to growth and financial inclusion.

Sumitomo Mitsui Financial Group of Japan announced a significant capital infusion of Rs 3,000 crore into its Indian operations on Thursday. The investment, aimed at expanding the business, was executed through a rights issue.

Of this, Rs 300 crore is allocated for SMFG India Home Finance Co. Ltd, a wholly-owned subsidiary focusing on home finance.

According to SMFG, the infusion follows a Rs 1,300 crore investment earlier in April, setting a record with a total of Rs 4,300 crore for the year, illustrating a strategic focus on growth and financial inclusivity in India.

(With inputs from agencies.)