Deutsche Bank AG, India, provides € 91 million sustainability-linked-loan to SMFG India Credit
Deutsche Bank AG, India, on Monday said it has provided a €91 million (about ₹814 crore) sustainability-linked-loan to SMFG India Credit (SMICC). The loan was facilitated via the Bank’s Gift City Branch.
SMICC is a wholly owned subsidiary of Sumitomo Mitsui Financial Group (SMFG). It has over 1,000 branches and had Assets Under Management (AUM) of ₹49,800 crore as on September-end 2024.
The senior secured loan, which carries a tenor of three years, is compliant with Deutsche Bank’s Sustainable Finance framework criteria.
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The loan will not only help expand SMICC’s portfolio and enable channeling funds toward MSMEs but also empower women entrepreneurs in underserved segments across India, Deutsche Bank said in a statement.
Pankaj Malik, Chief Financial Officer, SMICC, said “This strategic loan empowers us to expand our lending reach across the country, particularly amongst the underserved segment in the semi-urban areas.”
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The completion of this sustainability-linked loan reinforces the Bank’s commitment to promoting sustainable finance in India, said Rajesh Thakur, Head of Cash Management and Trade Finance at Deutsche Bank.
Kalpana Seethepalli, Deutsche Bank’s Director of ESG for APAC, Middle East, and Africa, said this transaction highlights SMFG India Credit’s flagship programs around financial inclusion, showcasing women and finance as powerful impact drivers.