Bank of America to Invest $1.9B in India's Jio Credit for Nearly Half Stake
Bank of America has agreed to invest about $1.9 billion in Jio Credit, acquiring an initial 26.5% stake with options to raise it to 49.9%. The nonbank lender, launched in 2025, manages $3.2 billion in assets as of June 2026. The deal awaits regulatory approvals.
The proposed transaction involves an initial purchase of a 26.5% equity share in Jio Credit, with a contractual pathway to eventually reach a 49.9% ownership position. Completion of the investment remains contingent upon securing necessary regulatory clearances.
Jio Credit operates as a nonbank financial entity, having commenced operations in 2025. By the end of June 2026, the lender had accumulated a managed asset portfolio totaling $3.2 billion.
This substantial foreign investment could signal growing confidence in India's digital credit market, potentially expanding access to financing for individuals and small businesses that rely on nonbank lenders. It may also intensify competition among financial service providers, which could lead to more favorable lending terms or broader product availability for borrowers, while simultaneously raising questions about the concentration of credit in a rapidly growing sector.