Bank of America to buy up to 49.9% stake in Jio Financial’s Jio Credit in joint venture deal - BAC News | RalliesBank of America to buy up to 49.9% stake in Jio Financial’s Jio Credit in joint venture deal
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BAC• Bank of America signs joint venture deal with Jio Financial
- Bank of America signed a definitive joint venture agreement with Jio Financial Services to buy up to 49.9% of Jio Credit.
- The stake is to be acquired via preferential allotment of equity shares and warrants in Jio Financial’s wholly owned NBFC lending unit.
- Jio Credit had ₹ 30,667 crore in AUM as of June 30, 2026, about $ 3.2 billion USD.
- The board will have equal representation from both partners, and Jio Credit will remain consolidated in Jio Financial’s reporting.
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