SMFG India Credit Achieves Stellar AA- Rating, Boosting India's Retail Loan Market

SMFG India Credit, a subsidiary of Sumitomo Mitsui Financial Group, earned an AA- international credit rating, highlighting its critical role and strategic alignment with SMFG's Asia Strategy. The company's financial discipline and customer-centric growth have powered its substantial market presence and boost for India's retail loan sector.

SMFG India Credit, a critical subsidiary of Sumitomo Mitsui Financial Group (SMFG), has been awarded a prestigious AA- rating with a stable outlook by the Japan Credit Rating Agency (JCR). This rating positions SMFG India Credit significantly higher than India's sovereign rating.

The Japan Credit Rating Agency underscored SMFG India Credit's integral role in SMFG's Asia Multi-Franchise Strategy. SMFG India Credit's alignment with SMFG's ethos of financial inclusion has contributed to its robust governance. Chief Financial Officer, Mr. Pankaj Malik, remarked on the rating as a validation of the company's financial discipline and innovative growth strategies.

SMFG India Credit's market expansion has been propelled by the growing domestic consumer credit market, supported by SMFG's strategic initiatives. This growth aligns with SMFG's global objectives, making SMFG India Credit a key player in India's retail loan industry.

(With inputs from agencies.)