SMICC Secures ₹814 Crore Loan from Deutsche Bank to Boost Financial Inclusion

Deutsche Bank AG, India, announced the issuance of a €91 million (approximately ₹814 crore) sustainability-linked loan to SMFG India Credit (SMICC) through its GIFT City branch. 

SMICC, a wholly owned subsidiary of Sumitomo Mitsui Financial Group (SMFG), operates over 1,000 branches and reported Assets Under Management (AUM) of ₹49,800 crore as of September 2024.

The senior secured loan, with a three year tenure, adheres to Deutsche Bank’s Sustainable Finance framework. 

It aims to expand SMICC's portfolio, facilitate funding for MSMEs and support women entrepreneurs in underserved areas across India.

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Pankaj Malik, Chief Financial Officer of SMICC, emphasized the loan's role in extending lending outreach, particularly in semi-urban areas. 

Rajesh Thakur, Head of Cash Management and Trade Finance at Deutsche Bank, highlighted the transaction as a reinforcement of the bank’s commitment to sustainable finance in India.

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Kalpana Seethepalli, Deutsche Bank’s ESG Director for APAC, the Middle East and Africa, noted that the initiative underscores SMICC's dedication to financial inclusion, with a strong focus on empowering women as key drivers of impact.

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